A WHITCHURCH company which is a leading manufacturer of inks, solvents and dyes, has been given money to help it expand.
The Needham Group, which is in Waymills Industral Estate, has received a £550,000 funding loan from Santander Corporate and Commercial to buy the additional premises.
David Needham, chairman of The Needham Group, says the family-founded company is delighted to be looking ahead for its future.
He said: “The company has grown from strength to strength since it was founded by my father in 1962.
“It’s still very much a family business, and our success is driven by establishing long-term relationships with our clients and partners.
“We look forward to the next phase of growth for The Needham Group as we expand our premises.”
The move follows strong demand for the firm’s products from its UK and international client base – sales have doubled annually for the past three years.
It is believed the planned expansion could create new jobs for the town, but an exact figure is yet to be confirmed.
The funding from Santander Corporate and Commercial will now enable The Needham Group to buy additional premises on the Waymills Industrial Estate, where it bought its current premises in 2012.
Anita Roberts, relationship director of Santander Corporate and Commercial, said: “David’s leadership and ambition has driven The Needham Group to success and we are delighted to be able to support the next level of growth for the company.
“The Needham Group has been supplying high-quality inks and coding equipment for more than 50 years.
“David’s knowledge of the sector is shown through the growth they have seen since the company was founded.”
The Needham Group found initial success with an original marker pen ink product.
The business then expanded by forming a number of partnerships with ink jet manufacturers and laser coding systems, becoming the UK’s exclusive supplier for a number of prominent brands, including Citronix, TYKMA and Macsa Laser.