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.
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.
