Formula One set for Shrewsbury expansion
Telford-based window retailer Formula One has announced plans to open a showroom in Shrewsbury. The expansion, which will create 12 jobs, comes after the company secured a financial package from NatWest.
Formula One, which is an associated company of Cannock manufacturer Rapid Frame, employs 48 people.
The company said it would now open "at least one new outlet" this year in Shrewsbury, with the financial backing of NatWest commercial banking and RBS invoice financing.
Martin Corcoran, managing director of Formula One and Rapid Frame, said: "We want to create sustainability over the next ten years and develop a minimum of four more show sites similar to our now established site in Telford.
"We believe our next Formula One showroom site will be in Shrewsbury which will offer an immediate and localised service to Shrewsbury and the surrounding areas. We want to create job opportunities in Shrewsbury and find like minded people who actually care about our customers and want to do the best job possible."
The financial package was put in place by Mark Winter-Wright, senior commercial manager at NatWest, and Joe Vasey from RBS invoice finance.
