North East firm sign £50m Kazakhstan deal
A North East supplier of de-icing products has signed a memorandum of understanding in Kazakhstan that could be worth £50m in business.
Newcastle-based Kilfrost signed the MoU with the mayor of Kazakhstan’s capital, Asana, while on a trade mission in the country.
Gary Lydiate, chief executive of Kilfrost said: “We have a positive history of trading with Kazakhstan spanning over 15 years. This visit marks the obvious next step in this relationship and is an important milestone in Kilfrost’s international growth plans.”
Trade and Investment Minister Lord Green added: “Kazakhstan is emerging as the dominant economy in central Asia and offers many opportunities for British businesses small and large across a wide variety of sectors.
“This first ever visit by a UK Prime Minister demonstrates our commitment to strengthen the trade and investment links between our two countries. I am delighted that Kilfrost has secured new business in Kazakhstan and I wish them every success.”
Kilfrost has been providing its products to aviation and rail customers for over 80 years and now supplies one third of the world’s aircraft de-icing fluid needs. It serves 65 countries on five continents via facilities in the UK, Europe, North America and Japan.