Engineers are pressing ahead

Engineers Holdfast Manufacturing have a pressing engagement with the future – to double turnover in the next couple of years.

The metal press workers based in Stourbridge have recently taken out a development loan with UK Steel Enterprise, the Corus group subsidiary which provides growth finance for small and medium sized companies.

Holdfast has two strings to its bow, making metal components and tooling for customers who are major players in the oil, telecoms and motor cycle industries, and making around five million galvanised electrical switch boxes a year.

Managing director Greg Hartshorn said: "Holdfast is at that crucial point where we have to expand to cope with demand.

"We took out the UK Steel Enterprise loan to invest in stock to be able to improve our turnaround times and service to our established customers and new ones coming on stream."

Holdfast has been in business since 1987 when it was started by Greg's father, an experienced engineer. With a background in sales and marketing, Greg now looks after the commercial side while younger brother Stephen is engineering director. Turnover this year will hit £1.85 million bolstered by £500,000 turnover added by the acquisition of an electric box business last year. Employment has increased too with their workforce already up 50% since last year's 30.

UK Steel Enterprise regional manager Keith Williams said: "Holdfast is just the sort of forward-thinking business we can help in the West Midlands. We can invest up to £400,000 to help a company fund its growth."