Croda International Plc, the specialty chemicals company that creates high performance ingredients and technologies reinforced its commitment to UK manufacturing by announcing 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. Croda will be able to satisfy growing demand for its renowned polymer additives. This 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.
The investment will nearly double existing capacity and enable Croda to meet growing demand for slip additives through to 2030.The initiative further reaffirms Croda’s commitment to the global polymer market and enhances its position as the market leader in this technology. Furthermore, it will support continued innovation in this fast growth market, helping to build on the recent success of products such as Incroslip™ SL, a patented technology that is used to improve the slip and stability in polymer products.
Work on the plant extension will start shortly and the new capacity will come on stream in late 2018.
|Company Name||Croda International Plc|
|Estimated Cost||£27 Million|