Wednesbury food supplier KTC Edibles is planning to expand thanks to a £40m working capital loan from Lloyds Bank Commercial Banking.
KTC Edibles, which brings world food products to retailers, manufacturers and wholesalers, supplies more than 250 million litres of oil to the food industry every year and employs 275 members of staff across its two UK sites in Wednesbury and Liverpool.
Exports to Europe and North America currently account for five per cent of KTC’s sales.
Having achieved a growth in sales of over ten per cent last year, KTC has now secured a £40m banking facility. This gives the business the financial flexibility to concentrate on expansion into new overseas markets and develop its international client base.
The company expects its current turnover of £233m to increase by at least another ten per cent over the next year, and for its global export operations to grow by 25 per cent over the next five years.
Think Sandwell wishes KTC all the best with its plans for the future. If you’d like more information on how our team can help your business grow, visit our Business Services pages.