An east Belfast central heating maintenance company has announced a planned expansion, financed by Danske Bank, that will lead to the creation of three new jobs.

Solv Group, which provides the installation and maintenance of central heating systems to the public and local businesses, has invested £70,000 in a substantial expansion of its fleet to enable it to service growing demand for installations of natural gas heating. The firm, which currently employs over 30 people, also has offices in Enniskillen and Coleraine.

The credit facility was made available by Danske Bank and contract hire and business vehicle management company Fleet Financial.

Stephen Kane, managing director of Solv Group, said: "We've seen a significant increase in the number of people seeking to make the switch to gas, so this investment is part of our plan to service that burgeoning market and ensure sustainable future growth. On average, we're seeing people making savings of around £750 by switching from oil fired central heating, and we’re confident that more and more people will see the benefits of changing their home heating supply.

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"We're a technology-led firm that uses the latest software to improve the efficiency of our engineers and enable customers to track their location, so there was a natural fit with a technology-led bank like Danske Bank – their eBanking products and cash management tools have helped put us in a strong position to grow."

Global market conditions have driven prices down in recent years, meaning that the fuel is approximately 40 per cent cheaper than oil products. A boiler scrappage scheme, launched in September, enables consumers in Northern Ireland to benefit from a grant of up to £1,000 to replace old and inefficient boilers.

Austin Coll, Business Banking Manager at Danske Bank, said: "Solv Group has been providing high-quality heating maintenance systems to customers in Northern Ireland for nearly 15 years. Their investment in the latest technology and new market opportunities shows a forward-thinking and ambitious business strategy that is key to success in a turbulent trading environment."

(CD)