The specialty chemicals company’s portfolio includes high performance ingredients and technologies, and Croda says it is aiming to be able to invest in faster growth markets moving forward.
“It demonstrates the Company’s commitment to UK manufacturing and will provide long term job security for the workforce at their facility in Hull and support the local economy during the construction phase,” the company said in a statement.
“It is in line with the Company’s strategy to invest in faster growth markets, enabling it 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.”
Croda marked the official launch of the expansion with a ceremony at the Yorkshire manufacturing site, attending by the local Mayor, MPs, and Councillors.
Steve Foots, Group chief exec, said at the event: “We are hugely proud of our Yorkshire heritage, so I am delighted to be here with the Lord Mayor of Hull, his colleagues and other members of the Croda Board and Executive Committee to mark the start of the construction phase of this major project, one of the largest capital investments we have ever made at any of our European operations.
“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
Lord Mayor of Hull, Cllr Sean Chaytor said: “I am delighted to be here today to witness this important milestone in Croda’s growth strategy. As a key employer in Hull and the surrounding region I am delighted that Croda has chosen to invest here and in doing so is safeguarding local jobs with the hope they will create further opportunities in years to come.”
Justin Williams, Hull Site Director said: “This strategic investment will provide job security for our workforce and is aligned with the Government’s Northern Powerhouse initiative to boost investment in science and innovation. 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.
“With our focus on improving the efficiency of the new and existing facilities, we are showing our ongoing dedication to the sustainable production of the products our customers need to satisfy consumer demands.”