A strategic partnership with Severfield Plc and a £1m investment supported by Barclays to acquire new plant has provided job security and significant growth potential to this Welsh manufacturing business, based at Mamhilad Technology Park in Monmouthshire.

Composite Metal Flooring Ltd currently employs 28 staff and manufactures metal flooring and bolt shear connectors used in commercial flooring.

The company is part of the wider CMF Group which employs more than 150 staff across Wales with an annual turnover of £30m.

Matthew Smith, managing director at Composite Metal Flooring Ltd, said: “The joint venture with Severfield Plc who is the largest steel fabricator in the UK will see turnover increase by a third as they become one of our biggest customers. The £1m-plus investment to acquire a new cold headed forming machine will allow us to manufacture our own shear connectors, which we have previously outsourced, removing more than £1.5m of cost from our business and securing our supply chain.”

Rob Reid, Barclays relationship director, said: “By really understanding the business and the industry sector, Barclays has been able to provide a funding package to support Composite Metal Flooring Ltd throughout this exciting phase in the companies history.

"A £1m investment in the new equipment demonstrates both Barclays and Composite Metal Flooring Ltd confidence in the continued growth and success of the business. This is a great example of a Welsh based manufacturing business collaborating with a major player within the industry sector to deliver business growth and job security across the group.”

Matthew Smith said: "The new investment will allow us to create five or six new jobs over the next 12 months and provide job security for the existing workforce.

"During the recession we had to make some tough decisions and had to make a number of redundancies to ensure the survival of the business. It is fantastic to emerge leaner and more efficient from the experience and see the business growth and job security we can now provide. The new machinery will allow us to increase production by a third and target new geographical regions and new markets. We provide the full service in relation to commercial flooring from manufacture to installation and look forward to delivering our ambitious growth plans.”