Oil and chemicals manufacturer secures £1m loan

SOUTH Yorkshire firm Granville Oil & Chemicals is set to expand after completing a £1m deal with The Co-operative Bank.

The Goldthorpe near Rotherham-based company, which manufactures car chemicals and lubricants, will use the funding to acquire its previously rented 34,000sq ft premises.

Further good news comes with Granville’s acquisition of the UK manufacturing and marketing rights for the well known Gunk brand from its American owners.

The firm employs around 40 staff and manufacturers a wide variety of brands including Autosol, Burgess Marine and Bat-Aid.

Garry Holland, Granville’s managing director, said: “We have been looking at buying our building for some time now.

“Along with the new contract for Gunk, this is a very exciting time for our business.”

David Lee, corporate manager at The Co-operative Bank’s South Yorkshire Banking Centre, said: “In difficult economic times many businesses can find it difficult to secure the capital they need to ensure their continued growth.

“Granville Oil & Chemicals is a company with a robust business model and strong plan for its own future development. Our £1m loan shows that if the project is right then the funding is there.”

The Co-operative Bank’s South Yorkshire Corporate Banking Centre provides banking services for SMEs and medium enterprises (MEs) within the mid corporate market.

The business development managers focus on generating new to bank corporate businesses with turnovers of between £1m and £50m.