Yorkshire firm Magma Ceramics and Catalysts has secured financing to build a manufacturing facility in Vietnam which will begin operating from July.
The manufacturers of refractory ceramic products used by the glass, alloy and steel industries will open the 6,000 square metre facility between Hanoi and North Vietnam’s main international sea port, Haiphong.
It follows the company, formed in February 2010 following a management buy-out of Dyson Precision Ceramics, securing a £600,000 finance package from HSBC.
Managing director Mark Stuckey said: “This facility is a strong strategic acquisition for us because it enables us to manufacture ceramic products in volume and strengthen sales opportunities in South East Asia; it is also in a good location to support Vietnam’s growing petro-chemical industry.”
Magma Ceramics and Catalysts last year announced a turnover of £6m, and states it is on course to achieve £10m for 2013.
It currently employs 52 people at its Dewsbury headquarters and with some 80% of its products exported, recently announced the opening of a new facility in Brazil.
The plant in South America will focus on the manufacture of a range of catalyst products for customers operating in the petro-chemical and natural-gas markets.