Thermal funding

A Grant for Business Investment (GBI) from Advantage West Midlands has helped automotive parts specialist Grayson Thermal Systems create jobs, expand its premises and secure £600,000 in private investment.

The GBI, formerly known as Selective Finance for Investment in England, is a form of financial assistance available to businesses located in assisted areas in England to support their expansion, modernisation, rationalisation and diversification.

As part of the scheme, regional development agency, Advantage West Midlands, has provided funding of £249,000 to help Grayson replace its existing factory in Tyseley, Birmingham, with a larger facility.

The new premises will house the company’s head office and its enlarged aluminium-manufacturing facility, whose new furnace is expected to boost production by 400 per cent. The company is set to continue manufacturing its copper-brass products at its unit in Tyseley and is currently recruiting 18 staff to meet increased production.

Graham Hateley, chairman of Grayson Thermal Systems, said: ‘We took the decision to expand late in 2007 and developed a strategy that would help us to achieve our goals.