NatWest funding helps crane company buy new premises
Cobal Cranes Ltd, a business that supplies, installs and maintains overhead cranes has relocated to a new base in Dronfield after securing funding from NatWest.
- (1888PressRelease) March 07, 2012 - The business, which used to operate from three different sites in the Rotherham and Sheffield area, has invested £315k to move purchase a 10,000 sq ft site on Callywhite Lane in Dronfield. Cobal's new base includes a workshop, storage facilities and office accommodation.
Established in 1976, Cobal supplies overhead cranes and associated equipment such as crane tracks, gantries, hoists, beams and carriages. The business also specialises in refurbishment and repair work on behalf of customers and provides a full 24-hour breakdown service covering all structural, mechanical and electrical issues.
Cobal, which employs 12 staff and has a turnover of £1.2m, provides its services to customers throughout Yorkshire and the Midlands.
Steven Hides, Cobal Cranes' Managing Director, said: ""Operating from three different sites was not ideal and limited our plans to develop the business. Bringing everything together under one roof means that we can operate more efficiently and this has been a priority for some time. We are delighted to have finally completed this move."
NatWest's commercial banking team in Sheffield provided Cobal with a £215k loan to help fund the property purchase. Martin Gorman, Relationship Director at NatWest, said: "Given the nature of Cobal Cranes' business it has taken a while for them to find a suitable site. The move to bring all operations under one roof for the first time should benefit the business and we are very pleased to help them acquire the Sheffield site."
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