North East chemicals firm Thomas Swan & Co says it is working towards growth having seen a modest growth in turnover.
The County Durham firm makes a range of chemicals including products used in the production of latex gloves and tyres and graphene. New accounts for the Consett-based manufacturer, which also operates bases in the US and China, show turnover increased from £36.6m to £37.9m in the year to the end of March 2022.
It was a year in which the 177-strong firm saw pre-tax profits jump to £3.3m from £187,586 thanks to gains on the sale of its graphene patent and know-how to a joint venture business it set up with Canadian mining and mineral operator Mason Graphite. As part of a £3m deal, Thomas Swan acquired 33.33% of Black Swan Graphene - a company set up to establish large scale, commercial graphene production at a factory in Québec.
