A PUDSEY-based chemical company is set to recruit more staff after a £1 million cash injection from Santander.

Vickers Laboratories Limited, based in Richardshaw Road, a leading chemicals manufacturer and chemical logistics specialist, has purchased new manufacturing facilities and is set to hire more staff to cater for strong business demand following £1 million in funding from Santander Corporate and Commercial.

The firm is forecasting growth of around 10 per cent for this year, driven by sales to its diverse customer base in both the UK and abroad.

Established by the Vickers family in 1969, Vickers Laboratories moved to its current purpose-built site in 1995.

The firm has since diversified away from being a purely chemical manufacturing company into a chemical, packaging and logistics company.

Their work lies in the procurement of raw materials, the safe handling and repackaging or dissolution in water and subsequent storage and distribution.

It is also able to offer a third party branded chemical logistics facility.

While the firm’s primary clients include blue-chip chemical and pharmaceutical companies, it has made a significant investment in a world-class monomer production facility to support growth in the global contact lens market.

Investment in this area could be a positive move for the firm. The global market for contact lenses was valued at approximately £4.1 billion in 2012, growing at a CAGR of 10.3 per cent from last year to 2019.

The funding from Santander Corporate and Commercial has provided additional working capital, which has supported the purchase of a previously rented second manufacturing site as the firm looks to expand production and meet business growth aspirations.

Steve Foster, Vickers Laboratories managing director, said: “We are investing for growth and are delighted with the support from Santander Corporate and Commercial.

“These are exciting times for the business as we continue to expand and look for business opportunities, both in the UK and increasingly abroad”.

Hardeep Thandi, Santander Corporate and Commercial relationship director, said: “The management team at Vickers Laboratories have a strong vision in place for the business, operating a diversified and successful model focused on investment, innovation, growth, and expansion.

“We are delighted to be supporting the firm at this exciting time in its history.”