Eccles-based speciality chemicals company Akcros Chemicals has
agreed a new deal with Royal Bank of Scotland (RBS) which includes
a working capital facility with RBS Invoice Finance and a £700,000
(about €820,000) loan from Lombard, the bank’s asset finance
arm,
for investment in new machinery.
Akcros has put a total of £7m of new finance
in place so that it can continue growing by developing new products
and gaining orders for export.
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The company was previously funded by
Landsbanki, which withdrew from the UK market after the Icelandic
debt crisis emerged.
Akcros, which has a reported turnover of £60m,
makes mixed metal and organotin based heat stabilisers, biocides,
epoxy plasticisers, bonding agents, antistatic additives and
viscosity modifiers.
It has also led the way in the development of
calcium/zinc stabilisers.
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By GlobalData
