Scottish Specialist Manufacturer Secures Funding to Drive Rapid Growth

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Image of Chemco International's (From left to right) Colin Wade (Managing Director), Ian Gold (Commercial Director), Brian Duncan (Operations Director), Masoud Goodarzi (Technical Director). 

Scottish specialist manufacturer secures funding to drive rapid growth

A Scottish business is targeting significant growth and large-scale automation with support from Lombard and the Royal Bank of Scotland through part-funding.

Chemco International, an employee-owned manufacturer of specialist protective and marine coatings, has secured a £670k trade loan to be invested in additional machinery to increase capacity and automate its processes.

Through the upgrades, the business, which currently employs 35 people, aims to triple its turnover by 2036 and create new jobs locally through this expansion.

Established in 1990, the Coatbridge based business designs and manufactures advanced protective coating used across marine and industrial sectors, including energy, offshore, petrochemical, and the cruise industry.

Colin Wade, Managing Director at Chemco International Ltd, said

"This funding is actively supporting us in our growth journey. As an employee-owned business, it's vital that we invest in technology that supports our people and strengthens our capabilities. In this instance, securing part-funding to safeguard the long-term interest of our employee owners.

"Lombard and Royal Bank of Scotland have been key to seeing our vision realised, working closely with us to provide a solution that supports both our immediate needs and our long-term ambitions."

Scott McGhie, Senior Relationship Manager at Lombard, said: "Chemco is a strong example of a growing, purpose-led manufacturing business playing a vital role in supporting global industries, through innovative and environmentally friendly coating technologies.

"By providing this trade loan alongside Royal Bank of Scotland, we are helping the business invest in automation, increase capacity and deliver sustainable growth, while continuing to support jobs and communities in Scotland."

Lombard and Royal Bank of Scotland's investment builds on the business' focus of supporting growth among organisations which aid in supporting a wide range of industries.

Lombard is the UK's largest asset finance provider. The company has been supporting businesses for over 160 years; whether investing in vehicles, equipment or cutting-edge technology, Lombard's business finance solutions give businesses the tools to help them grow and thrive."