Hire Torque Ltd expanding into new premises after Barclays funding

Blyth-based equipment company HTL is expanding into new premises after a funding agreement with Barclays

Hire Torque Ltd - Left to Right, Stephen Jones - Managing Director HTL, Richard Hogarth - Senior Barclays Business Manager and David Richardson - Marketing Director HTL
Hire Torque Ltd - Left to Right, Stephen Jones - Managing Director HTL, Richard Hogarth - Senior Barclays Business Manager and David Richardson - Marketing Director HTL

Equipment company HTL is expanding into new premises after a funding agreement with Barclays.

Blyth-based Hire Torque Ltd (HTL), which specialises in the sale and rental of mechanical, pneumatic and hydraulic bolt torquing and tensioning equipment, has bought premises at Nelson Park Industrial Estate, Cramlington.

The 65,300 sq ft site will become the headquarters for the company, which was established in 1994 and has a current annual turnover of £7m.

The firm has used the new government-backed Funding For Lending scheme to purchase and kit out the premises, from where its intention is to continue to evolve from a UK company mainly supplying to a UK customer base to a global provider.

Managing director Stephen Jones said: “Purchasing the new premises is a major step forward in our growth strategy. We started out in premises the size of a double garage with two employees and now have over 50 staff across three UK facilities.”

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