Numill Ltd, who are based on Balaclava Road in the city, reclaim, design and manufacture machine consumable cutting tools for businesses across Europe.

Anne Wilson completed the MBO to become managing director and sole shareholder of Numill, taking over from the previous owner who had established the business in Sheffield in 1969.

Since then the company has grown rapidly, adding two new employees at the end of 2007, with a further individual set to be appointed in the next few weeks.

To continue the success and the expansion of its UK and International sales base, Numill has received a £100,000 loan from South Yorkshire Investment Fund (SYIF).

The funding will go towards the working capital needed to support the company's sales in the UK and across Europe, including Scandinavia, France, Denmark, Czech Republic, plus Spain and Slovenia – two new regions recently added to Numill's target area.

Anne said: "This support from SYIF is greatly appreciated and will enable the business to continue to grow to where we aim to be. We are now achieving three times as much work as we were in November 2006.

"This has been organic growth from our existing customer base and core business operations, rather than bringing new business in."

Numill has been developed from Sheffield's international expertise in the manufacturer of cutting tools.

Anne added: "We believe we offer the scale of service only a handful of rivals in the world can match. Numill takes scrapped tools and re-grind, re-weld and re-machine them before sending them back to clients in a new workable format.

"This provides companies an alternative to buying new products. A business can save up to 70 per cent by choosing tool reclamation."

Numill were introduced to SYIF by Robert Hanney from Sheffield-based chartered accountants Knowles Warwick.

Andy Chaffer, SYIF's Business Director, says: "Numill has just completed a very successful first year's trading under Anne's ownership.

"This additional funding from SYIF will enable the company to strengthen its position, not only in the UK, but further a field.''