UK Steel Enterprise hits 100 million investment milestone

June 14th 2019

UK Steel Enterprise (UKSE) has provided more than 100 million of financial support to aspiring businesses across the UK following its latest deal, its board has revealed.

The organisation, which was founded over 40 years ago, works in traditional steel-working areas across the UK including Tees Valley, Derwentside and West Cumbria in the North, to help businesses grow.

Simon Hamilton, managing director, who started his career with UKSE in the Northern region, said: "This is a fantastic time for UKSE. We work hard to support companies across the UK and we are truly proud to have reached the 100 million milestone.

"The steel industry has experienced significant change over the years, but UKSE has supported the entrepreneurial spirit that exists up and down the country and helped many worthwhile companies to grow and create new jobs.

"UKSEs achievements are a testament to how management and unions can work together constructively to regenerate steel communities and drive new growth."

UKSE was established in 1975 by the then British Steel Corporation to encourage economic regeneration and job creation in traditional steel communities by providing support, finance and premises to growing businesses.

To date it has supported 5,500 businesses across the UK including 1,300 in Teesside and the North, creating almost 17,500 jobs.

They include Teesside-based Micropore Technologies, an innovative company that has developed a multi-award winning chemicals technology and Exwold Technology, a contract chemical processing firm.

The latest to benefit from UKSEs support with a six-figure deal is Scottish biopharmaceutical firm, Antibody Analytics, a contract-testing organisation offering bioanalytical services to global pharmaceutical companies developing new medicines to treat cancer and other diseases.

It is extremely rewarding to support companies such as Antibody Analytics, Micropore Technologies and Exwold Technology said Simon Hamilton. We are passionate about regenerating steel areas and look forward to supporting more growing businesses across the UK.

To find out more about UKSE, please visit http://www.uksteelenterprise.co.uk/

PICTURE: Sarah Thorpe of UKSE visits Dai Hayward CEO of Micropore Technologies that has received three investments from UKSE.