A Sussex foundry has gained a new lease of life with a grant from the assisted area programme.

Finecast Foundry in Lancing has been bought by businessman Chris Heatley with the help of an Enterprise Grant, won with the assistance of grants adviser Paul Jordan.

Mr Jordan is based at Brighton and Hove City Council and works with businesses in wards granted assisted area status in Brighton and Hove, Lewes and Adur.

He helps with applications for business grants from the Regional Selective Assistance Scheme, whose fund managers are the South East England Development Agency Seeda) and the Small Business Service.

Mr Heatley's major challenge in his bid to acquire the foundry was he had very little time to bring together the finance and shape a business model.

He said: "I've worked at Finecast for many years.

It was a family-run business and a few years ago it got involved in tool making.

"Earlier this year the opportunity came up for me to buy the foundry business and I had to act fast so I am grateful that Paul was able to meet the demands we put on him.

"If the foundry has closed, it would have had a serious effect on many businesses, large and small."

The Business Link organisation recommended Mr Jordan's service and he worked with their senior business adviser on the manufacturing side, Ray Perry, to find the right deal.

Mr Heatley said: "Paul and I had three meetings and numerous telephone calls but eventually, on a Sunday night at 11pm, we finalised the figurework and I had a completed application form for the Small Business Service.

"Acquiring the foundry means Sussex will keep the ability to manufacture this type of product and retain skills which would have been lost to the area."

The grants adviser service, which is free, is funded by the Regeneration Partnership and Brighton and Hove, Adur and Lewes councils.

Contact Mr Jordan on 01273 292734.