Banking facility boosts Airedale Chemical
A CHEMICALS and dyes manufacturer has secured a multi-million pound banking facility to support its expansion plans.
Airedale Chemical Company services a range of industries and has an office in China.
It recently agreed a five-year distribution agreement with The Chengxing Group, the largest manufacturer of phosphoric acid and phosphate products in Asia.
The company, based in Cross Hills, Keighley, trades into Europe and the Far East and is expected to turnover more than £20m this year.
Airedale, which employs 42 people but has plans to grow staff numbers, and manufactures, supplies and distributes dyestuffs, chemical auxiliaries and performance chemicals, has secured the funding facility from The Royal Bank of Scotland.
The right formula: (Front to back) Craig Thomson, finance director at Airedale Chemicals; Steve Ward, senior relationship manager at RBS; Richard Chadwick, managing director at Airedale Chemicals; Martin Leighton, operations director; and Stephen Wilkinson, technical director.
The firm was founded in 1973 by current chairman Brian Chadwick and began as a supplier of dyestuffs and related products for the textile industry.
Earlier this year the company established and opened its first office in China which has enabled it to source dyestuffs, chemicals and raw materials as well as providing a selling platform into Asia.
The company also operates an office in France which manages the European side of the business.
Mr Chadwick’s sons, Richard, John and David, are managing director, administrator director and European sales executive at the company respectively.
A third generation is also now involved in the business with Chris Chadwick holding the position of sales manager.
Richard Chadwick said: “The company has experienced tremendous growth over the past few years and in order to build on this success and meet our future growth aspirations, it is essential to have the necessary funding in place and we are delighted this has now been arranged.
“We believe the market for our dyestuffs and performance chemical products will continue to expand and present new opportunities to enhance Airedale Chemical Company position in these markets.”
Funding was provided though Steve Ward of RBS Commercial Banking and John Moors of RBS Invoice Finance in Bradford.
Mr Ward, said: “This is a glowing example of what can be achieved by local people in business in the local area. The company has come a long way in recent years and has constantly evolved in response to the changing marketplace.
“We look forward to supporting them further with their growth aspirations and strategic corporate objectives.”
