A company boss bought £1,500 of steel fencing to protect his business against metal thieves – only to have the panels stolen before he had a chance to put them up.

Colin Smithyman, who runs Oakham Environmental Waste and Recycling Centre in Dudley, was devastated to learn about the theft.

“I’m gutted. Companies are going through a hard time at the moment – this is the last thing we need,” he said.

The 45-year-old is offering a £500 reward in a bid to catch the intruders who wrecked his £2,500 gates breaking into the yard.

The theft at Oak Lane, Kingswinford, was discovered by site manager Randel Hawkins yesterday morning. It is believed the thieves used a large flatbad lorry to transport the 10ft by 7ft green palisade panels away from the waste transfer station.

Mr Smithyman, who employs 14 people and has been in business for 25 years, said work had recently begun to pick up and he had just invested £260,000 in new machinery.

“It’s very frustrating,” he said.

“We’re trying our best to keep our heads above water in this recession and when something like this happens to knocks you back.

“The panels will most likely be sold for scrap value.”

He added: “We’ve been fortunate in that we haven’t suffered any major thefts here but I’ve been very aware of the rise in metal thefts and this was the very thing I’d bought the panelling to guard against.”

Police are investigating the break-in at the site which was manned by a security guard at the time.

Anyone with information about the theft is asked to call either 0845 113 500 and ask for police at Halesowen or Oakham Environmental on 01384 402285.

The Dudley theft comes just days after thousands of pounds worth of steel was stolen from C Brown & Sons Steel Ltd in Brierley Hill. Thieves made off with 80 tons of sheet metal in the raid after smashing a window and forcing a door to get into the building in Pedmore Road last weekend.

It is thought the cost of the metal seized plus damage caused totals £24,600.