Six-figure investment for West Bromwich steel firm
Bromford Iron & Steel has announced a six-figure investment in its factory at West Bromwich.
The investment is the first wave of a 10-year transformation project for the company, a leading producer of hot rolled flats, sections and custom profiles.
Part of the OSSL Group, Bromford Iron & Steel in Bromford Lane has undergone radical development since its acquisition by the group in 2014.
Despite the challenging conditions of the UK steel industry, Bromford, which has a proud 200-year history, has secured increased export contracts and has begun to see new growth. It currently exports approximately 65 per cent of its output.
The investment in increasing capacity will not see any immeidate increase in the 40-strong workforce at West Bromwich.
Capitalising on the growth in exports, Bromford is looking to implement new technologies to increase its agility and improve its customer service. This will include data capture and innovative new maintenance strategies.
The investment follows new financial backing secured in a deal with corporate finance group Close Brothers
"No one needs to reiterate the difficulties faced by the UK steel industry," said Chris Hutton-Penman, chairman of OSSL.
"They are well documented, but with the backdrop of the UK Industrial Strategy and the drive for an innovative manufacturing sector that demands a strong steel industry, we are making this investment to seize opportunity.
"To do this, our investment will address two issues: firstly to ensure we continue to offer the very best customer service. Secondly, we will look to leapfrog existing levels of automation and technology and move directly to next generation processes and systems. These will form the platform of improved competitiveness for growth."
