Metafin boosts production with Barclays loan
Fifty jobs are set to be created by a Black Country manufacturing business after it secured a funding line from Barclays Corporate.
Metafin Group Holdings will move into its new 86,111 sq ft site in Northcote Street, Walsall and said it now expects to create 50 new jobs over the next three years.
The family-owned business, which provides electro-painting and powder coating services to the motor industry, obtained investment from Barclays Corporate after it outgrew its previous premises. It currently emplys 120 people.
Chief executive David Parker said: "We were very keen to maintain our Walsall ties and stay within the area for our workforce and to protect the heritage of the business. This new site in Northcote Street will provide the company with the space it needs to accommodate future growth and to continue to develop our workforce.
"We expect to start operations in the new premises by the end of 2012."
Jaz Khunkun from Barclays Corporate added: "Metafin are a good example of a business who have adapted to the economic conditions. They put their earlier expansion plans on hold as it was felt that the timing wasn’t right given the decline in the motor industry.
"They looked at their cost base and sat-out the recession and are now in a strong position to continue with their growth and development plans."
