An employee-owned Coatbridge firm is embarking on a £1 million investment programme which will allow it to treble production capacity and expand its premises, maintaining local jobs.
Chemco International says the major project at its Shawhead industrial estate premises cements the town as its company headquarters and ensures that its 30 posts are retained in the area.
The protective coatings firm has bought both its existing Hagmill Road base as well as vacant neighbouring land, and will first improve its existing facilities to “increase technical and production capabilities”, before looking at plans to expand further by constructing a new building.
Managing director Colin Wade told the Airdrie and Coatbridge Advertiser: “We’re all extremely grateful to North Lanarkshire Council for their support in facilitating the property purchase – without this we’d have been forced to relocate out of the area, with an inevitable loss of local jobs.
“We’re gearing up the business for rapid and substantial expansion – we’ve grown 50 per cent in the past two years and are looking at that again.”
The £1m project comes after the company became entirely employee-owned and moved into the hands of its current management in early 2019.
Chemco have purchased their current rented premises and now plan a thorough renovation during the rest of this year with upgraded equipment and a newly fitted-out research and development laboratory.
Mr Wade said: “It will enable us to treble the production capacity in the existing building and to create additional warehouse space to support that increase.
“We’ve recruited several people in the past six to nine months, and the plans have the potential to increase jobs in the area.”
It will be followed by a second phase of development after the firm also purchased the neighbouring land for longer-term plans to build an extension of the factory – which could eventually lead to a further “significant increase in personnel”.
The managing director added: “None of this would have been possible without the teamwork, enthusiasm and commitment of all 30 employee owners at Chemco International, who all have a single goal of growing the business in Coatbridge.”
Chemco was founded nearly 40 years ago and specialises in protective coatings for industry, including the marine and rail sectors.
The project also includes the company switching to entirely renewable energy for all of its heating and power requirements.
Describing the plans as “a momentous time for us”, a company statement said: “We are proudly based in Coatbridge and this project emphasises our commitment to remaining and investing within the town, safeguarding and re-securing Coatbridge as our headquarters and enabling us to continue to expand on and around our existing site.”
Ivan McKee MSP, the trade, investment and innovation minister, said: “This commitment also makes a contribution towards the future growth of our large and successful chemicals industry, which employs around 11,000 people in Scotland.”
