18th Feb 2016 08:42
LONDON (Alliance News) - Ceramic materials manufacturer Surface Transforms PLC on Thursday said it has accepted an offer for financial support from Liverpool City Region Organisations and has signed heads of terms on lease for a new factory.
The company has secured a GBP500,000 tranche of funding from Merseyside Special Investment Fund, covering a GBP200,000 grant and a GBP300,000 zero-interest loan.
The loan will be repayable between May 2019 and May 2022 and is conditional upon the company's planned factory expansion in the region.
To that end, Surface Transforms said it has signed a heads of terms with the owners of an existing building at Knowsley Business Park to lease the factory. Surface Transforms will initially move into the building in September this year, before adding to its presence there in September 2019.
Shares in the company were up 5.3% to 18.95 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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