Capital Coated Steel pumps £3.5M into new site
29 May 2015
Capital Coated Steel has invested £3.5m in acquiring and refurbishing new premises at North Black Vein Industrial Estate in Cross Keys, supported by funding from Barclays.
The new 130,000 sq ft will house additional machinery imported from the US and allow the company to consolidate its three businesses under one roof, relocating from Cardiff and Pontypool.
It will also create additional 14 jobs, bringing the total there to 114.
The business, founded in 1972, processes more than 70,000 tonnes of steel every year, used in products including cladding and consumer electronics.
It said it hopes the new site will allow it to grow turnover to more than £40m.
Gary Hunt, managing director at Capital Coated Steel, said: "Moving to the new site will allow the continued expansion of our business to meet demand.
"The unit was a former Tata Steel site and local competitor, so when they decided to close the facility down last November we immediately made enquiries to acquire the premises.
"We have made significant investment, but lots of the infrastructure and fittings for operating within the steel industry were already in place making it commercially very attractive."