North East biochemical outfit expands
Billingham-based peptide manufacturer, Cambridge Research Biochemicals (CRB), has acquired new premises for expansion into Far Eastern markets.
The firm will move into new premises at Belasis Hall Technology Park in Billingham, having secured funding from Barclays.
It means CRB will increase their current capacity from 4,000 sq ft to 10,000 sg ft, ready for expansion into new markets.
Emily Humphrys, commercial director of CRB said: “Purchasing the new premises is a major step forward for the business and provides us with the space to expand our service offering and tap in to the Far East market.”
Alison White, operations director at CRB added: “We’ve grown organically in both the UK and overseas and the timing of this investment could not have been better with the cash-back payment from Barclays providing a buffer to help manage our finances as we increase our capacity.”
CRB is the world’s oldest peptide manufacturer, producing products for medical research organisations working in early stage drug discovery. The firm was established in 1980 and was subject to a management buy-out by Emily Humphrys and Alison While in 2000.
This latest deal is the third occasion on which Barclays have worked with CRB over the course of 13 years, including a Small Firms Loan Guarantee (SFLG) finance to assist with the Management Buy-Out in 2000, followed by Enterprise Finance Guarantee (EFG) support for capital expenditure in 2009.
Mark Alden, senior Business banking manager at Barclays said: “CRB is a great example of a manufacturing company growing despite the challenging economic climate thanks to the astute and strategic management team. The future looks bright as CRB is well positioned to retain its leading position within its chosen markets.”
This was posted in Bdaily's Members' News section by Tom Keighley .
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