A Dewsbury firm is set to expand its operations to the other side of the world.
Magma Ceramics and Catalysts, which manufactures and supplies refractory, ceramic and catalyst materials and technology, has bought a 600sqm factory in Vietnam.
The firm, based in Earlsheaton, already has a facility in Rio de Janeiro, Brazil.
Its new Vietnam base is in the Dai An Industrial Zone, between Hanoi and the country’s international sea port, Haiphong, and will be operational in July.
The factory will make products for the glass, alloy and steel industries, with plans to also take advantage of Vietnam’s developing petro-chemical industry.
The company believes the facility will be contributing up to £5 million to its annual turnover within two years of operation.
The expansion was aided by a £600,000 finance package from HSBC, secured by its Calderdale, Kirklees and Wakefield commercial team, led by senior international commercial manager David Sharp.
Managing director Mark Stuckey said: “This facility is a strong strategic acquisition for us because it enables us to manufacture ceramic products at volume, strengthens sales opportunities with South East Asia and is in a good location to support Vietnam’s growing petro-chemical industry.
“HSBC’s support has been important to the success of the project and I’d like to thank Dave and the team for their work.”
HSBC’s Calderdale, Kirklees and Wakefield area commercial director Jason Gledhill said Magma was an innovative and proactive company.