Dewsbury firm Hempel Firmus Metals secures £200,000 loan to develop its products

Dewsbury-based Hempel Firmus Metals stocks materials such as nickel alloys and titanium which are used in equipment for the oil, gas and petrochemicals industries.

The company supplies engineering firms and fabrication workshops worldwide and exports account for around 60 per cent of its sales.

The funding, which comes after the business failed to secure finance from the banks, will allow the company to further develop its coil and sheet processing facilities, diversify its stock and develop new markets. It will also help create three new jobs.

Ben Wood, general manager at Hempel Firmus Metals, said: “Our business is heavily reliant on finance, as we deal in expensive materials and need to keep sufficient stock to meet demand.

“We have been growing rapidly and had problems in securing the funding we need from conventional sources.

“The Mercia team quickly understood the problem and resolved the issue.”

The business was established over 10 years ago.

It became part of the Swiss group Hempel in 2016. Since then it has increased turnover from £500,000 to £3m.

Funds: Jonathan Craig of Mercia, left, with Ben Wood of Hempel Firmus Metals.