|
Hartlepool-based Hydrochem recently established the new site in Malaysia, which it will use to develop a number of much-needed chemicals for use in the region’s agriculture and healthcare industries. The new base, which is being rented by the company and has been almost four years in the planning, will create eight jobs when it goes into operation next month.
The firm, which was set up over 20 years ago, is now in discussions with a number of wealthy Malaysian investors, who are interested in having a major stake in the business as it grows its Far East client base.
The plant, which Hydrochem plans to purchase for £500,000 in three years’ time, will specialise in chemicals which aid the production of rice crops as well as those used to combat severe acute respiratory syndrome (SARS) and MRSA.
Despite the current global financial crisis, the firm believes the expansion will help it to grow its turnover from just under £1m to around £3m in three years as well as add 10 new members of staff to its 14-strong workforce in Hartlepool.
It also plans to begin work on doubling the size of its 10,000sq ft site on the Graythorp Industrial Estate by early next year, which will include extra laboratories and office space. Managing director Bill Abbott said: “When we looked at the market potential in Malaysia and the wider area of Asia, we realised we could only achieve so much if we appointed a distributor. By opening up a production and R&D facility, it puts us in a much stronger position to exploit the opportunities to their full potential. A lot of people have said that we are mad to be doing this at the current time. However, we believe that the Far East will allow us to continue our growth and put us in a strong position once the economy improves.”
The firm’s expansion plans were given a kick-start earlier this year when it was granted pioneer status by the Malaysian government, which includes a series of tax breaks.
It also benefited from the UK Government’s Passport to Export programme, which helped directors recoup 50% of the costs of flying between the UK and Malaysia during the expansion’s planning stage.
Are you looking for a new career within renewables? Are you a recruiter looking for industry professionals? Please visit our brand new www.RenewableEnergyJobs.Net to register yourself or your job vacancies today and net your perfect green energy career!
|
