Kirklees Business News 04/10/11

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KIRKLEES BUSINESS NEWS The business NEWSpaper for Kirklees

Research facility looks to the future

■ CONFIDENT: Steve Woollven, joint managing director of Millers Oils

A COMPANY manufacturing motor oils for high-performance vehicles has made a six-figure investment. Millers Oils, based at Brighouse, has pumped £500,000 into setting up a new research and development laboratory in a bid to continue its impressive record of year-on-year growth. The new facility will help the firm develop new products and technology. A focus of the laboratory will be on developing technology to help in the manufacture of products that reduce friction – a key growth area for oil and lubricant companies. The new facility, based at the firm’s Brighouse headquarters, will also allow more in-house testing, analysis of used lubricants and quality control. The company is confident the investment will pay off with superior products and higher sales. Joint managing director Steve Woollven said: “It is unusual for a manufacturer to make this kind of investment at a time when the world

economy is struggling. “However, we are confident that the new facility will boost our bottom line as we improve our technology, products and the service we can offer our customers. “Despite the recession, we have grown year-on-year and we see that continuing.” The new research and development centre, which took seven months to complete, will house staff including chemists and technicians.

Meanwhile, old offices elsewhere on the site will be demolished to make way for the expansion of the factory. Earlier this year, Millers Oils announced another year of increased turnover. The firm is continuing to invest in developments to assist further growth. Earlier this year, the company reached a landmark as turnover passed the £25m mark. The firm, which supplies the automotive, motor sport, classic car and truck sectors, has more than doubled turnover in just five years. In the past 12 months, the firm has added oil filtration services – crucial for manufacturers using hydraulic systems – to its range of activities and has continued to increase sales of its automotive oils and lubricants in the UK and across Europe. The specialist oil and lubricant manufacturer is based in Brighouse with depots in Glasgow and Abingdon, Oxfordshire.

Companies miss out on financial opportunities MORE than a quarter of businesses in Yorkshire may be missing out on access to finance – simply because of fears about approaching their bank. One in four respondents in the Business Finance Barometer, independently commissioned and published by Close Invoice Finance, said they hadn’t asked for increased credit from their bank for fear of being turned down or the bank deciding to increase the cost of their existing borrowing. Ian Steward (right), of Close Invoice

Finance, said: “At a time when the country is struggling to get back on its feet, it’s astonishing that small businesses, the very engine room of our economy, find themselves in a situation where they not only feel unable to access funds to grow, but actually lack the confidence to even ask for it in the first place.” He said: “The survey also demonstrated that a fifth of businesses in Yorkshire aren’t happy with the level of personal service they receive from their bank. “Ironically, our last Barometer showed

that the majority of firms remain reluctant to change provider – perhaps a case of better the devil you know.” The survey showed that a third of UK firms had plans to expand over the next 12 months, but Mr Steward said: “Given that so many appear to have somewhat broken relationships with their banks, it’s especially important that they realise there are other options open to them.” A report for the Department for Business said invoice finance had a crucial role to play in private sector recovery.

INSIDE Expertise rewarded LAW firm Ridley & Hall has been recognised as national experts by a top legal publication. The Huddersfield firm appears in The Legal 500 – widely regarded as offering the definitive judgement of law firm capabilities. Ridley & Hall has been particularly recommended for it’s expertise in family law and trusts and probate.

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It’s simply topping! WORK on a £4.75m care centre has reached a significant stage. VIP guests saw the official “topping out” ceremony at Meridian Healthcare’s new development, which is being built Oakes in Huddersfield.

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Solicitors for business inYorkshire www.chadwicklawrence.co.uk Huddersfield | Wakefield | Halifax | Leeds


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