Croda International Plc, the specialty chemicals company, has announced a major capital expansion at its Hull facility in Yorkshire.
The £27 million investment is in line with the Group’s strategy of investing in faster growth markets and helps Croda satisfy growing demand for its polymer additives. The technology is used by global polymer manufacturers to address issues such as friction, scratch resistance and stability of plastic materials used in multiple industries including automotive and packaging.
Croda says that its investment will nearly double existing capacity and enable the company to meet growing demand for slip additives through to 2030.
The Hull site is one of three polymer additive manufacturing plants in Croda, with the others located in Gouda, Netherlands and Mianyang, China. Work on the plant extension will start shortly and the new capacity will come on stream in late 2018.
Steve Foots, Chief Executive of Croda, said: “The announcement underlines our commitment to the UK economy and a strong desire to invest in the best of British. Furthermore, it is aligned with the Government’s initiative to increase investment in science and innovation and boost exports from the UK. The project will combine cutting edge technology with optimised production and process efficiencies ensuring that Croda can continue to supply the highest performing and most innovative products to our customers across the world.”
Stuart Arnott, President Operations at Croda, said: “This strategic investment will not only provide job security for our workforce, it will also support the local economy during the construction phase. The longer term benefit of this project will be seen across the entire supply chain through a significant increase in the demand for locally grown natural raw materials.”