Offshore Stainless Supplies, the Walsall-based stockist and processor of cold-drawn stainless-steel bar and steel sheet, has secured funding worth £4.5 million from Santander Corporate & Commercial.

Established by managing director Chris Joyce in 2000, the business employs 34 people and has a turnover of £12 million.

According to Mr Joyce, the funding “will support the conversion of higher volumes of raw bar into drawn material, with the aim of improving turn-round times from 21 days to three or four. It will also support the implementation of a new stock management system.

“We have been looking to expand our operations, with the ultimate aim of providing an improved service to our growing client base. A new cut-to-length line will allow us to offer a more flexible service, and our new stock management system will improve efficiency.

“This is an exciting time for the business, and we are looking forward to the next phase of growth.” 

Debbie Partridge, relationship director at Santander, said: “This is a great local family business, which has developed a strong domestic and international client base. We have been thoroughly impressed with the knowledge and ambition of Chris and his team,
and we are delighted to be involved in a true Midlands success story.”