A Barnsley laser cutting company is spending £450,000 on new machinery - including £135,000 from the taxpayer - to increase production and create 10 jobs.
Cutting Technologies plans to buy the latest 400w laser and a greener and more efficient nitrogen generator is also on order. The firm says it will target the re-emerging construction sector and create 10 jobs by next spring.
The deal will take Cutting Technologies’ total investment in the last year to £1.25m. It now employs 30 people and owns six lasers.
The latest investment has been made possible thanks to a Regional Growth Fund grant of £135,000.
Director Jane Robinson said: “We are attracting some extremely high profile work across a range of sectors and simply have more work than we have capacity to do at the moment.
“We are keen to continue growing and this funding will allow us to purchase an extra laser and nitrogen generator which will have an enormous impact on productivity.”
Cutting Technologies had to undergo due diligence from an external accounting firm because of the size of the bid. Tom Preece from accountancy and business advisory firm BDO in Sheffield assisted. Tom added: “The RGF grant will assist the company to progress.”