Industrial Chemicals Group’s product portfolio includes bulk and packed chemicals to support the water utility industry, steel manufacturing, food industry, paper industry and homecare chemical products manufacturing.
Headquartered in Grays, the firm was established more than 40 years ago, and boasts an annual turnover approaching £100 million. It employs more than 400 people in the UK and, with a global client base, handles more than one million tonnes of specialist chemicals annually.
The deal marks the continuation of a long-standing partnership with Lloyds Bank, which provided the business with a £35 million finance package in 2013, helping to fund the original development of the Chlor Alkali manufacturing plant located in the group’s 90 acre production facility at West Thurrock, Essex.
Steven Swaby, head of finance at Industrial Chemicals Group, said: “Following the significant investment in our manufacturing facilities two years ago, we have continued to accelerate our growth, and are pleased to introduce additional capacity to our Chlor Alkali operations in West Thurrock.”
He added: “Lloyds Bank’s support has again been fundamental in enabling this expansion, which will help us to achieve our growth ambitions, reducing our reliance on third party chemical supplies and driving profitability.
“Since 2013 Lloyds Bank’s support has enabled us to implement our strategy to increase our in-house UK manufacturing and expand our packaged chemicals division. We have created 53 new jobs, including the introduction of an apprenticeship programme to develop the skills of the next generation in engineering and manufacturing in the UK.”
