Growing Bradford firm Hill Hire is to expand its operation further with nearly £2 million raised with a shares issue on the Stock Exchange.

The firm, which has its headquarters on the Euroway Estate, is planning a new five-acre site in the West Midlands costing £2 million and is expected to use the cash raised by the shares issue to pay for it.

The firm, whose sales director is Tim Josse, will build a workshop and rental building on the new site which will require additional investment.

The company has five other sites in Manchester, Glasgow, Castle Donnington, Leighton Buzzard and Rainham in Essex.

The firm, which started in the city in 1988, was bought from the receivers of the Sir James Hill group in 1990 by a team of directors who now run the firm led by chief executive Jeff Chapman.

The group floated on the Stock Exchange in December 1994. Since then the company - which started with just over a dozen people in 1990 - has grown and now has 125 staff nationally and is worth £40 million. At its half-year the company had 5,577 vehicles but now has more than 6,251. Mr Chapman said: "This growth reflects the strong demand experienced for the contract and spot rental of both trucks and trailers.''

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