Jobs hope as Croda to invest £27 MILLION in Hull

By Hull Daily Mail | Posted: 19 Feb 2017

One of Hull's best known companies is to launch a huge investment programme which will double its output in the city, potentially creating a mini- jobs boom.

Chemicals company Croda International is to invest £27m in the city, one of the largest injections of capital in Hull in recent years.

It is believed the company's Oak Road site in north Hull will benefit from the investment. The company also has its headquarters in Snaith near Goole and a business centre in Hessle.

The money will double the conmpany's capacity in East Yorkshire, according to a report in the Sunday Times today.

The move is expected to significantly increase production of the polymer additives Croda makes, which are used by car manufacturers and plastic packaging makers.

The firm, which also has bases in China and the Netherlands, said it was part of a strategy of ploughing money into what it called faster growth markets.

It is expected the investment will generate new jobs in Hull although the company was not available for immediate comment today.

Operating as a plc, Croda already employs 850 people across East Yorkshire, and last year reported record pre-tax profits, which it attributed to "innovation" being at the forefront of its philosophy.

Croda was founded at Rawcliffe Bridge near Goole by Mr Crowe and Mr Dawe to make lanolin, the refined form of wool grease. Since then it has grown to become a FTSE 100 company and one of the region's biggest success stories.

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