GrowHow plants seeds for further success thanks to RBS
GrowHow UK Ltd, the Cheshire-headquartered fertiliser manufacturer and major supplier to the UK's process chemicals industry, is set for continued success after agreeing a £51m facility with the Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB).
(Media-Newswire.com) - GrowHow UK Ltd, the Cheshire-headquartered fertiliser manufacturer and major supplier to the UK’s process chemicals industry, is set for continued success after agreeing a £51m facility with the Royal Bank of Scotland Corporate & Institutional Banking ( RBS CIB ).
GrowHow is the UK's largest ammonium nitrate and true granular compound fertiliser producer, servicing the British agriculture and the process chemical manufacturing industry. Formed as a joint venture in 2007 from previously separate companies, the company is a successful business with manufacturing sites in Cheshire and Teeside, employing around 600 people with a turnover of £500m.
The RBS CIB funding package consists of revolving credit facilities, trade finance, foreign exchange and overdraft facilities. The deal will also see RBS take over all the company’s day-to-day banking as it looks to consolidate its position as the number one fertiliser manufacturer in the UK. "The team at the Royal Bank of Scotland in Manchester has gone the extra mile in understanding our business and our ambitions. It is because of this, as well as their local knowledge, fantastic energy and full suite of products available, that gave us such confidence to work together for a bright future. We’re extremely excited about the deal, and about working with the RBS CIB team going forward."
Colin Jones, Chief Financial Officer of GrowHow UK "GrowHow is a strong example of a well-run, dynamic and market leading business that the region can be proud of - and one we’re proud to be helping. We’re delighted to have been chosen to be the full banking partner, and to help GrowHow progress. It also demonstrates RBS' commitment to support the UK manufacturing sector in the North West as well as nationally."
Chris Logan, Relationship Director for RBS CIB in Manchester
This story was released on 2013-01-03. Please make sure to visit the official company or organization web site to learn more about the original release date. See our disclaimer for additional information.