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Cast Iron Radiators, which has received a Queens Award for Industry, moved its factory from three small buildings in Scarborough to one larger factory of 25,000 sq ft in Filey.

The total investment, including new equipment and energy efficient features such as solar panels and LED lighting, is £750,000.

The firm, which has a £2.3m turnover and employs 20 staff, is creating three or four new factory jobs as production increases.

Founder and managing director David Messenger said: “The new factory will mean faster production times, which will increase production by about 30 per cent.”

The business already exports regularly to Germany, Spain and France, although it has exported as far away as North Africa and New Zealand.

It is now setting its sights on Italy and potentially Scandinavia.

“The key for us to expand into a new market is about finding the right person,” Mr Messenger said.

The bulk of the company’s radiators go into residential markets but it also supplies offices and hotels.

The company was founded about 15 years ago when Mr Messenger, who was trading reclaimed items at the time, decided to buy the old radiators from Scarborough’s Grand Hotel, which was undergoing refurbishment.

"I bought them not knowing a great deal about them,” he said. “I taught myself how to refurbish them and then I sold them online.”

He joined forces with his business partner Graham Jeal and together they launched a limited company.

Looking ahead, Mr Messenger said he expected the next 12 months to be difficult. “I think it’s going to be relatively tough if I’m honest. Everybody is seeing an increase in cost base and customers are likely to be stretched with their money.”