Chemical firm looks to double turnover

A Harrogate-based specialist chemical trading business is set for significant growth in new international markets following a seven-figure funding package.

GOI Trading, established in 2014, is an independent trading business focused on the purchase and sale of specialist bulk industrial petrochemicals such as liquid styrene.

The business is utilising the funding to diversify the range of speciality chemicals it trades and scale-up its operations to enter international markets outside Europe for the first time. It has also added a new experienced trader, located in Belgium, to support its European and broader global operations.

The new financial facilities, secured through HSBC, combined with additional operational investment, provide the basis for GOI Trading to grow its turnover by up to 50% in the next 12 months.

David Stuart, Financial Controller at GOI Trading, said: “The funding package that HSBC UK has provided is extremely flexible, allowing us to react quickly and precisely to opportunities in our volatile market place. This nimbleness underpins our business model. It is positive to be working with a financial partner such as HSBC UK that understands the challenges of global speciality commodity trading.”

Mark Watson, Relationship Director for HSBC UK, North & West Yorkshire, added: “Entering such a large market could seem like an intimidating prospect for many, but the team at GOI Trading has gone about its business with confidence and commitment. We look forward to seeing the team grow the range and international spread of its business in the period ahead.”

Click here to sign up to receive our new South West business news...