Belfast Telegraph

Bank of England 'hawk' flies over to visit steel company

By Clare Weir

A Bank of England 'hawk' swooped into Coleraine last week to visit a leading steelwork manufacturer and learn more about the economy here.

Dr Martin Weale of the Monetary Policy Committee (MPC) who favours higher interest rates to control inflation, visited Smyth Steel's anvil works during a short tour of Northern Ireland businesses.

James Smyth, managing director of Smyth Steel, said that staff were pleased to welcome Dr Weale to the firm's Coleraine HQ.

"It was a great honour for us as a company to welcome Dr Weale and to have the opportunity to take him on a tour of our factory and offices, where he met some members of the Smyth Steel team," he said.

"He was very interested to learn of our experiences as suppliers to the construction industry and was very willing to share his thoughts on the current state of the economy and of possible future trends."

Dr Weale said: "My visit to Smyth Steel Limited was most interesting.

"The evidence suggests that it has achieved penetration into the construction market in Great Britain at a difficult time in this industry. I was impressed by the quality of its product as well as the foresight and commitment of its people."

All of Smyth Steel's manufacturing takes place at its 10-acre Gorran Road site, with approximately 100,000 sq ft of factory and office space.

About 90% of its output is shipped out of Northern Ireland and is installed by it on sites around Great Britain.

The firm is currently working on projects in Gateshead, Sunderland, Wigan and Llanybydder, Wales. Its list of regular customers features many of the top names in UK construction.

90%

of the output from Smyth Steel is shipped around Great Britain

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