Business Monthly: Some gloom, but plenty of reasons to toast success

Business editor David Walsh
Business editor David Walsh
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If you’ve never had a pint of Jaipur go straight out and order one now, circumstances permitting.

Created by brilliant brewery Thornbridge, it is one the finest, most flavoursome and complex drinks ever to hit the real ale market (and therefore the world) and has rightly been honoured many times.

Managing Director Jim Harrison watches bottles come off the production line.

Managing Director Jim Harrison watches bottles come off the production line.

But it doesn’t stop there, the firm has continued creating drinks that have revolutionised - my words - the sector.

Now it has borrowed £2m from the bank and bought a bottling machine 10 times larger than the current one, as it heads for 80 per cent turnover growth.

This would be fantastic news on any day, but coming after the gloom of Tata’s troubles and the potential impact on South Yorkshire, it is very welcome indeed.

Not that it’s over for Tata.

Business minister Anna Soubry visited the Rotherham plant on Monday and in interviews with reporters must have said the words “viable”, “confident” and “future” about 50 times.

The picture that emerged was that the speciality steels business, based in South Yorkshire, could have a future as a standalone business.

It all depends on Tata’s bosses in India, and to a much lesser extent, our Government. But it’s easy to see how a firm that breaks even or makes a profit most years would be more attractive than a plant losing £1m-a-day.

Then up pops Forgemasters and announces it has won a £1m order from the States. Everyone’s favourite steel firm, this was a fillip after it posted a loss and made 50 redundancies last month. And if that wasn’t enough, Sheffield magnetic gears company Magnomatics has just received investment of almost £2m.

All those announcements happened on Monday. Here’s to the rest of the week!