This article has been submitted by Finance Wales
Pro Steel Engineering Ltd (Pro Steel) has won the contract to redevelop the iconic East Stand at Twickenham Rugby Stadium, to support the project they have received a six-figure working capital loan from Finance Wales.
The Caldicot-based company has previously worked on major projects including the London Olympic Stadium Transformation Project and the redevelopment of Birmingham New Street train station.
Their latest project involves work on Twickenham’s East stand to extend it outwards to add six levels for hospitality and conference events.
“Following our first working capital loan from Finance Wales for the London Olympic Stadium Transformation Project we were able to generate enough income to reinvest in the company and expand our services and create opportunities for local employment. With this stable platform we have been able to secure a further high profile project in the redevelopment of the East Stand of Twickenham Stadium,” explained Pro Steel Managing Director Richard Selby.
“To deliver this project we needed a working capital facility to stabilise our cash follow through the growth phase of the project and it was clear to us that Finance Wales provided the best offer of support.”
The business recently won the ‘Growth Business of the Year’ category at the South Wales Chamber Welsh Business Awards 2016, and the ‘Fastest growing firm in Manufacturing and Engineering’ at the Fast Growth 50 awards in 2016.
“Richard and the team at Pro Steel are a perfect example of fast growing, ambitious and successful Welsh manufacturing firm,” said Investment Executive Bethan Bannister, who structured the deal on behalf of Finance Wales. “To be awarded yet another iconic project is testament to their hard work and expertise in this sector. We’re happy we’ve been able to support them with a working capital facility.”
The loan comes from the Wales Business Fund, part-funded by the European Regional Development Fund (ERDF) through Welsh Government.