North East firm secures £16m boost from HSBC UK for European growth

A North East distributor has secured £16m funding from HSBC UK to grow its sales across European markets.

Stockton-based Billions Europe, which sells high-performance titanium dioxide (TiO2) pigment, has secured the funding in order to place more stock in warehouses across Europe in a bid to reduce delivery times.

In addition, the business has also appointed two new sales managers for the European region, one based in Germany and the other in Stockton-on-Tees, with more appointments expected as a result of the funding.

Fiona Macleod, managing director of Billions Europe, commented: “HSBC UK has supported us from the beginning, when we set up Billions Europe in 2014 as a multi-million, multi-currency global business.

“We’re delighted that the bank has continued to support our growth with this latest funding, so that we can continue to increase sales and expand our footprint across Europe.”

HSBC UK relationship director Ben Foster added: “Billions Europe has very clear and ambitious plans for growth across Europe and we are pleased to support a strong North East business with global ambitions.

“The next phase of its expansion strategy is key and we look forward to seeing the benefits this brings to the business and to the North East.”