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Dynamifix looks to Euro growth
START-UP firm Dynamifix is set to expand into Europe to capitalise on growing demand for its products.
The Castleford business supplies anchoring and fastening products for the wholesale construction industry and sells all over Europe.
It is the main distributor in the North of England for Powers Fasteners, a worldwide supplier of high-performance products to the construction industry.
The company, which was established six months ago, said it has enjoyed considerable growth since inception.
To cope with increased demand, the company said it approached Lloyds TSB for funding to provide working capital to service new contracts in the UK and overseas.
Tony Petyt, managing director of Dynamifix, said: "Cash flow is a major concern for any new business but having the right financing in place has been key to our success.
"After just five months we found that as we extended our reach into Europe we needed additional funding to keep up with demand. By boosting our cash flow we now have the financial headroom required to take advantage of new contracts in Europe and will continue to build the business."
Peter Bould, of Lloyds TSB, said: "For such a new company, Dynamifix has done remarkably well in its first five months of trading, which is testament to Tony and the team's hard work and strategic vision."
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Wednesday 23 May 2012
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