Gary Hunt, managing director of Capital Coated Steel (left) at the new plant with Rob Reid, relation

Gary Hunt, managing director of Capital Coated Steel (left) at the new plant with Rob Reid, relationship director, Barclays.

The Tata Steel site at Cross Keys in South Wales has been bought by UK company Capital Coated Steel, which claims to be one of Europe's largest processors of pre-finished steel.

The subject of a £3.5 million (€4.88 million) investment, the 12,000m2 premises on the Blackvein Industrial Estate covers more than 2.8ha and will become the new headquarters of Capital Coated Steel with all group companies being co-located on the new production site.

The company processes over 70,000 tonnes of steel annually.

Gary Hunt, managing director, said, "Our new site will provide us with significantly increased capacity to meet growing worldwide demand for our products.

"We have made significant investment, but a great deal of the infrastructure and fittings for operating within the steel industry were already in place, making it commercially very attractive."

He added, "Our new home will allow us to relocate from our existing factories in Cardiff and Pontypool which have simply been unable to accommodate the expansion of the business, bringing over 110 jobs to the new site."

He said he expected turnover to grow to over £40 million (€55.8 million) this year.

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