Sheffield-based TR Engineering Ltd, one of the UK’s most successful British-owned boiler manufacturers, is to expand production following multi-million pound funding from Santander Corporate & Commercial.
The firm, one of the last remaining British-owned domestic boiler manufacturers, has seen revenue grow 40 per cent since 2013, and is forecasting equally strong growth in 2015, driven by demand for energy efficient products such as its Greenflame Biomass range.
Demand has increased due to the Renewable Heat Incentive, which was rolled-out in April 2014 in the UK.
It has also set up a strategic partnership with Fusion Heating Ltd, a specialist heating systems supplier, to develop new products for the UK.
Peter Beighton, of TR Engineering which is based in Chapeltown, said: “We have made significant long-term investments in the business and are benefitting from exceptional demand for our products. The funding from Santander has helped us focus on the next phase of growth.”