Yorkshire-based Purex International has opened a new business unit with support from Barclays to ensure the continued expansion of the business.
The company makes fume extraction systems for the laser printing and engraving, electronics, pharmaceutical and dental sectors. Barclays support includes a significant asset finance facility to support the purchase of new machinery needed for the business to make the extraction cabinets in the UK.
Purex was formed in 2004 and quickly gained a track-record of providing good service and cemented themselves as an expert in the fume extraction field. Purex International operates at the Humber Enterprise Park, which is part of the old BAE systems facility.
Trefor Jones, Finance Director of Purex International, said: “We’ve been growing organically since we started out in 2004 and have worked alongside Barclays for many years. This new funding deal has enabled us to transfer the manufacture of the fume extraction cabinets entirely to the UK meaning faster end to end service for our customers and better control over quality and supply. Barclays have been a strategic partner to our business who continue to support our exciting growth plans.”
Purex International employs more than 50 people, and expect this year’s turnover to top £12m with the business benefitting from an improved supply chain as it embeds the new manufacturing capabilities.
Chris Rushworth, Barclays Relationship Director put together the funding package for the deal. He said: “Purex International is a great example of a thriving business that is expanding for the future and contributing to the local economy. The new funding has enabled the company to invest in the plant and machinery it needs to support their growth ambitions. The future economic success of our country will be driven by people and businesses in places like Brough so I am delighted we are able to support our client in this way.”