City backs hi-tech firm

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Corporate bankers from Sheffield are providing vital funding to enable a leading composites business to supply materials for a major automotive manufacturer’s development programme.

Barclays Bank’s Sheffield office is providing £3.25 million-worth of working capital for fast growing, Leicestershire-based carbon fibre and speciality reinforcements firm FORMAX.

Richard Venters, from Barclays corporate banking operations in Sheffield, said: “FORMAX is an excellent example of a business which has continued to invest for the future and is reaping the rewards.

“Barclays is supporting the company with working capital facilities to fund the investment needed in machinery to meet their growing order book.”

n Funding may be tight, but deals are still being done by corporate financiers and their advisers in the Sheffield City Region.

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