Family-run metal finishing company, Almit Group is set to expand its operations as it continues to invest in its premises, machinery and staff thanks to support from Yorkshire Bank.
Operating from its County Durham base, the Almit Group provides powder coating for new buildings, wet spray services to protect offshore components, zinc and nickel plating, and anodised coating to protect aluminium from corrosion.
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Continual support from Yorkshire Bank over the past five years has helped the business double its turnover and in 2013, enabled it to transfer operations to a 200,000 sqft premises at the former Amdega site in Darlington.
A further six-figure support package delivered by Yorkshire Bank relationship manager, Richard Jackson, recently helped fund the development of the Darlington site, including the purchase of brand new equipment, as the company embarks on a further period of growth.
An additional powder coating line along with an anodizing line will help the firm meet ambitious plans to increase turnover by a further 50% over the next two years, providing up to 20 more jobs in addition to the 110 staff already in employment at the firm.
A newly installed 10 tonne crane will also enable the team to treat much larger items than most competitors in the region can accommodate. This is particularly beneficial to customers in the oil and gas sector who operate with large subsea components which must be treated to prevent corrosion.
Almit Group managing director and son of founders Allan and Irene Mitchell, Allan Mitchell commented: “The Almit Group has supplied a range of protective and aesthetic metal coatings to a wide range of customers throughout the North East since 1982.
“We purchased the new industrial site with the support of Yorkshire Bank in 2013 as part of our long term investment plan to expand the business. The additional support means we’ve been able to equip the premises with top of the range metal treatment equipment, allowing us to move into new fields whilst also increasing existing capacity.”
Relationship manager at Yorkshire Bank’s Tees Valley Business and Private Banking Centre, Richard Jackson added: “It’s great to work with, and be able to support, a thriving local business such as the Almit Group.
“The company demonstrates the incredibly important role enterprising family-owned businesses play in the region and typifies their ambitious nature.
“Yorkshire Bank remains focussed on investing in the local economy and it’s extremely rewarding to know that we can play a part in supporting the aspirations of ambitious firms like the Almit Group.”
Yorkshire Bank recently launched a series of lending initiatives for UK businesses, designed to encourage growth for new and existing customers.
As well as capital-free periods for up to five years, the Bank has also introduced high percentage funding for businesses to purchase trading premises.
Yorkshire Bank has also strengthened its support for UK SMEs by becoming the first to partner with the British Business Bank under its ENABLE Guarantees scheme.
Up to £125m of new lending by Yorkshire Bank is hoped to help more small businesses achieve their growth ambitions.