Pictured: David Parker and Jas Khunkun

New jobs will be created by a Black Country manufacturing business when they expand into new premises with financial support from Barclays Corporate.

Metafin Group Holdings are moving to the new 8000 square metre site in Northcote Street, Walsall and expect to create 50 new jobs over the next three years. 

The family-owned business which provides electro-painting and powder coating services predominantly to the motor industry have outgrown their existing site on Green Lane and have decided that the time is now right to expand their business.

Chief Executive David Parker said: "We had previously considered moving to bigger premises pre-recession but with the pressures facing the motor industry at that time and in consultation with our bank, we took the decision to put the move on hold until the economic climate improved. 

We were very keen to maintain our Walsall ties and stay within the area for our workforce and to protect the heritage of the business. This new site in Northcote Street will provide the company with the space it needs to accommodate future growth and to continue to develop our workforce.  We expect to start operations in the new premises by the end of 2012"

Jaz Khunkun from Barclays Corporate said: "Metafin are a good example of a business who have adapted to the economic conditions. They put their earlier expansion plans on hold as it was felt that the timing wasn't right given the decline in the motor industry. They looked at their cost base and sat-out the recession and are now in a strong position to continue with their growth and development plans."

Metafin are a 24 hour operation and currently employ 120 staff. Staff retention at the company is high with a number of their staff having worked there for many years.

Metafin Group Holdings was founded by David Bundy in 1973 and was succeeded by son Paul Bundy and his wife Debra. Following Paul's death, his wife Debra became Chairman and continues to oversee the general running of the business. Her son Paul Bundy is currently studying and working within the business at the same time.