A recycling company based in the East Midlands has been granted a £6m finance package from HSBC UK to support its growth strategy in the UK and overseas.
Ward, which specialises in the recycling of ferrous metals, has sites in Swadlincote, Ilkeston, Chesterfield and Immingham, is using the funding from HSBC UK to support the operation of its new deep-sea dock facility.
The money will also enable the purchase of a new, 40-foot metal-processing plant which prepares the metal before it is exported overseas and relocate its 350-strong team to new offices. An additional uplift in the company’s trade line will help the business export more recycled metal to its existing markets in India, Pakistan and the Far East.
David Ward, joint managing director of Ward, said: “The continued support from HSBC UK has enabled our business to realise its growth ambitions, open up new revenue streams and better serve our customers.
“We’ve had a fantastic 12 months, from the opening of our new dock in Immingham to our successful office move, and the support of Graham Brown, our relationship director at HSBC UK, has been key to helping us achieve this.”
The office move and resultant growth will facilitate the creation of 40 new jobs across its three sites, including hazardous waste managers, commercial and industrial waste business development managers and telesales staff.
Roger Pratt, HSBC UK’s area director for corporate banking in the East Midlands, added: “HSBC UK continues to connect UK businesses to international opportunities and we’re thrilled to be able to provide Ward with the funding to grow their business here in UK and overseas.
“We are committed to helping businesses large and small to realise their ambitions and we look forward to supporting Ward over the coming years.”
The business currently exports 25,000 tonnes of steel to Turkey every two-three months, which is melted down and used to make new steel. This material is 100% recyclable and can be used in a variety of applications, from car manufacturing through to construction products.
Ward also offers a vast array of waste recycling activities on a national basis, including wood recycling, trade and general waste, construction waste, hazardous waste and land remediations services.