Ultimate Steel (Fabrications) stocks a wide-range of steel for use by local manufacturers and also fabricated components for the building trade across south Wales.
The business is currently busy producing steel structures for use in Swansea’s dry docks and carried over 300 tonnes of various steel plates and steel sections.
Ultimate Steel was originally formed in 2007 in Cardiff. It was then incorporated as Kwik Steel with 3 partners. In 2009 one partner restarted as Ultimate Steel.
In February it agreed a new £200,000 invoice finance facility, which made available up to 80% of the value of all invoices as soon as they are issued.
At the time of the deal, owner and director Joe Patrick said: “Cashflow is critically important in the stockholding and fabricating trade.
“We have to pay our suppliers for raw materials but have to wait for our customers to pay us in order for cash to become available.”