Chemicals business set for strong growth
A CHEMICALS manufacturer and logistics specialist has bought new manufacturing facilities and as it caters for strong business demand, which will see it grow its business by around 10% this year.
The news follows £1m funding from Santander Corporate and Commercial.
Established by the Vickers family in 1969, Vickers Laboratories moved to its current purpose built site in Pudsey in 1995. The funding has helped it buy a second manufacturing site, as the firm looks to expand production and meet business growth aspirations. Vickers said it is forecasting growth of around 10% for 2014, driven by sales to its diverse customer base in both the UK and abroad.
Vickers Laboratories currently turns over £3m and employs 26 members of staff.
While the firm’s primary clients include blue-chip chemical and pharmaceutical companies, Vickers has recently made a significant investment in a world-class monomer production facility to support growth in the global contact lens market. Investment in this area could be a positive move for the Leeds based company – the global market for contact lens was valued at approximately £4.1bn in 2012.
Managing director, Steve Foster, said: “We are investing for growth and are delighted with the support from Santander Coporate and Commercial. These are exciting times for the business as we continue to expand and look for business opportunities, both in the UK and increasingly abroad.”
In 2001 Julian Driver took control of the business as chief executive officer and the business went through major restructuring over the following years. In 2010, Driver sold the company to some members of the existing management team who became the new owners – Steve Foster (managing director), Paul Bottomley (commercial director) and Phil Constantine (operations director).
Relationship director at Santander Corporate and Commercial, Hardeep Thandi, added: “The management team at Vickers Laboratories have a strong vision in place for the business, operating a diversified and successful model focused on investment, innovation, growth, and expansion. We are delighted to be supporting the firm at this exciting time in its history.”
