Teesside steel company bags over £7,000 investment from local regeneration fund

Steel industry firm Elemy Ltd has secured a £7,500 loan from UK Steel Enterprise’s Regeneration Fund.

Set up this year by Richard Brine and his partner Claire Murphy in Teesside, Elemy Ltd was built on over three decades of steel industry experience.

Elemy aims to connect local and global suppliers of glass reinforced polymer (GRP) composites, and other niche carbon steel and non-ferrous metals to a range of customers across numerous market sectors.

The company has secured agreements with major manufacturers, suppliers and contractors and customers across many countries.

Richard said: “We are very pleased with the high level of initial interest. It includes opportunities in the UK, Europe, USA, Middle East and further afield with more than 50 per cent of our work to date from outside the UK.

“The strong mix of clients bodes well for the future as we establish ourselves in what is still a young niche market.”

Richard’s senior business roles, including European sales manager for British Steel and business development with Lionweld Kennedy, involved travel across the Far East, USA, Middle East and Europe.

The company’s turnover is expected to exceed £500k this year, and the couple are looking to move from their home-based office in Marske into bigger workspace.

Sarah Thorpe, area manager for UK Steel Enterprise, the Tata Steel business-support subsidiary, concluded: “It is good to see a new business making such a strong start and using the valuable expertise gained over decades in the steel industry.

“We were happy to support Elemy at this vital stage and look forward to seeing the business go from strength to strength and create valuable jobs in one of our steel areas.”