Tuesday, March 27, 2012

News: UKSE helps Macalloy on its growth journey

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Through its subsidiary UK Steel Enterprise (UKSE), Tata Steel continues to support new and established businesses to help them create jobs and improve the economy of steel regions in the UK.

One of the biggest success stories is the financial support for Rotherham-based Macalloy, a global leader in the design, manufacture and supply of threaded bar systems for innovative construction projects.

Macalloy systems support impressive projects including the Soccer City Stadium in Johannesburg, Dubai International Airport, the Burj Al Arab Hotel in Dubai and close to home, Clifton Park in Rotherham.

UKSE has been associated with Macalloy since 2003 when, impressed by the management team, it invested in equity as the company was going through a management buyout.

Keith Williams, regional manager at UKSE, said: "While we look at the company, its product, its marketplace and its potential to expand, the quality of the management team is the most important aspect of taking a decision. And we were impressed with Macalloy's team."

Another reason for supporting management buyouts is so that the area in which the company is based will continue to reap economic benefits.

In 2006, additional funding was loaned to Macalloy to help build a new manufacturing facility on the former colliery site in Dinnington and the company never looked back.

The purpose built factory enabled the company to carry on supplying products into the tension structures, fa├žade engineering, ground engineering and post-tensioning/concrete engineering projects worldwide. It also enabled Macalloy to enter new markets throughout the world.

Today, Macalloy has a turnover of £12m and provides employment to 80 people. While there are challenges ahead in terms of competition from China, rising steel prices and currency volatility, Macalloy remain very positive about future business growth.

Keith added: "Macalloy has probably got to the stage where it does not need any more funding from us but we are pleased to have helped it on its growth journey."

UKSE began in 1975 with funding of £50m from British Steel Corporation and Europe but is now self-sufficient. Income is generated from a loan and investment portfolio, as well as rents received from small business tenants using its innovation and business centres; the money is reinvested in new and growing enterprises as well as community projects.

In over 35 years, it has invested more than £78m and supported more than 4,800 businesses that are estimated to have created over 70,000 new jobs. Additionally it has provided over £8m in supporting community projects.

Macalloy website
UKSE website

Images: macalloy.com

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