A £430,000 funding package from Finance Yorkshire has helped boost the fortunes of West Yorkshire business The Rosehill Polymers Group.
The company is at the forefront of innovative polymer technology with its products and systems deployed across many global industries including oil and gas, rail, and sports and safety surfacing.
Its leading-edge technology featured in public areas around the Olympic Park at Stratford, London and at the Sochi 2014 Winter Olympics.
Based in Sowerby Bridge and employing almost 100 people, projected sales for Rosehill Polymers for 2015 will be in excess of £30 million.
Finance Yorkshire has provided two Business Loans to the company totalling £430,000 which have been invested in new plant and machinery and contributed towards the improved efficiency and optimisation of Rosehill’s production lines at its headquarters.
Group Managing Director Alex Celik said: “The investments from Finance Yorkshire have helped us not only improve the efficiency of our production line but enabled us to look at new ways of producing some of our materials.
“The business is doing extremely well and this will be a record year for us – in 2005 the business was at £6m turnover and for 2015 our projected turnover will be in excess of £30m.
This is a result of entering more and more new markets and deploying our technology in new territories.”
More than 50 per cent of Rosehill’s business is international trade with markets in Japan, Australia, New Zealand, the US and Europe.
Finance Yorkshire Investment Manager Jonathan Craig said: “Over the last two years Rosehill Polymers has grown its business exponentially and is thriving as it continues to innovate and invest in research and development. It is a great example of the type of business Finance Yorkshire supports in its ambition to achieve year-on-year growth and success.”
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, UK Government and match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.