A West Yorkshire roofing products manufacturer is targeting revenue growth of 15% each year after investing almost £1 million in a new site in Linthwaite, Huddersfield, with support from Lloyds Bank.
Greys Artstone specialises in creating reproduction roofing that matches the style of rare stone often found on heritage buildings, found in regional areas of the UK.
The business has moved into a new 25,000 sq ft premises in Linthwaite, almost four times the size of its previous leased unit in Honley, which will feature a brand new showroom. It hired two staff at the time of the move and is now recruiting for additional employees. Its current headcount is 18.
Lloyds Bank supported the investment by providing a £450,000 commercial loan. The firm will use the additional space to expand its manufacturing capacity and to store more of its products, helping it to deliver against increasing demand while shortening lead times for customers.
Greys Artstone moves into the new premises on the back of the company’s busiest month of trading ever during March 2021, with sales up 12% year-on-year.
Lee Johnson, Managing Director at Greys Artstone, said: “The new site provides Greys with greater capacity for growth at a time when we’re seeing a boom in construction activity.
“Thanks to the move, we can keep stock levels high, meaning we’re far less likely to have to reduce production because our storage is full. What’s more, it gives us the room to showcase our products and introduce the new Greys Oak Company.
“To showcase both companies is something we know is becoming increasingly important in our customers’ buying decisions.”
Craig Cousen, relationship manager at Lloyds Bank, said: “Housebuilding is currently the best performing construction subsector by far, buoyed by pent-up demand and strong housing market conditions, according to the latest Construction PMI from Markit IHS.
“This activity is funnelling opportunities through the supply chain and firms like Greys Artstone are feeling the benefit. This is only set to continue thanks to the Government’s new £7.1 billion National Home Building Fund. We’re committed to helping Britain prosper as it sets out towards recovery post-COVID.”