£500k funding will help glass firm double turnover
An Oldbury glass company has received an funding injection of more than £500,00 so it can buy its new premises and invest in new machinery with the aim of doubling turnover in the next few years.
Glass Express Midland has not only secured its own premises on the Anglo African Industrial Estate, off Union Road, but has been able to acquire another set of premises nearby.
This will allow the company's Gem Blinds business to move into its own purpose-built facility, opening up more space at the main site for Glass Express Midlands to install new kit.
The company provides a wide range of bespoke glass cutting and toughening services for joinery and double glazing firms, other glass companies and the shop fitting industry. It currently employs around 45 people across the two businesses.
The investment in premises and new machinery follows £535,000 in new funding from Santander Corporate & Commercial. The firm is aiming to double its turnover over the next five years to £5 million.
Established in 2008, Glass Express Midlands is owned by founder Salinder Singh. The business has continued to invest in the latest processing machinery – including a large 2.4 metre by 4.2 metre furnace – which Mr Singh says has allowed it to turn orders around quickly and maintain an edge over competitors.
He said the business had grown rapidly over the last six years, largely due to winning work from competitors off the back of its reputation in the market.
The company has agreed the funding package with the Birmingham office of Santander Corporate & Commercial.
Salinder Singh said: "We pride ourselves on being able to offer bespoke products to our trade customers. We have an excellent reputation in the marketplace and numerous recommendations from clients. This investment will allow us to make the necessary expansion needed to fulfil our growth strategy and I am confident that we will succeed in our five-year growth target."
Sukh Nat, relationship director at Santander Corporate & Commercial, said: "Salinder has a track record of successful business management having previously owned, and subsequently sold, a number of ventures.
"He is a very astute and experienced businessman, who has invested into the company and successfully grown it into a profitable entity."
