Coventry Chemicals announced record-breaking revenues

Coventry Chemicals has announced record-breaking revenues of over £23m, an increase of 30% over three years following a period of significant investment in new plant and machinery.

Building on this success and to reflect its ambitious growth plans in the UK and internationally, the business has unveiled a new identity, Mirius.

The firm’s growth follows a period of significant investment into automating its numerous production lines at its Coventry headquarters. Founded in 1963, the business, which now employs 148 staff, experienced early success manufacturing and supplying specialist and household disinfectants.

In recent years, it has diversified its service offering by developing its in-house bottle sleeving capabilities; making it the first in the market to offer the service. Further enhancements to the production lines has led to an expanded product range, including personal care products, allowing the firm to maximise relationships with customers including Aldi, Waitrose and Lidl, as well as embarking on licensed co-representation deals with the AA, JCB and the RSPCA.

Marking its large-scale growth, Coventry Chemicals launched a new identity on Monday 25th June, in an event at the Ricoh Arena. The new brand, Mirius, reflects the firm’s position as a global market leader in technical excellence and sustainability; being one of very few firms to achieve the new compulsory Biocidal Product Regulations (BPR) legislation, as well as offering 100% recyclable bottles.

Steve Quinlan, C.E.O. of Mirius, said: “We’ve always worked hard as a team to continuously innovate, as seen in the investment in our new production lines, such as our new sleeving capability. As a high-growth company that retains its entrepreneurial spirit, we’ve been able to not only compete in new markets for bigger contracts, but also win and fulfil them successfully.

“We’re now perfectly positioned to seize emerging opportunities in our industry, as well as cater for increasing demand for our services, as more customers realise the value in efficient, high-quality production. The launch of our new name Mirius shows the world what we truly offer in terms of innovation, commitment to regulatory excellence and environment-friendly production. This, combined with the investment and on-going support received from Finance Birmingham, will see us continue to move from strength to strength in the coming years.”

Playing a pivotal role in Mirius’ performance in recent years has been external investment, with Finance Birmingham – an alternative SME finance provider – injecting £1.75million to support the firm’s growth in 2014. Used to help optimise its production process, Mirius was able to automate its high-speed packing lines – increasing their filling capacity to over 30million.

Clive Broadhurst, Portfolio Director at Finance Birmingham, commented: “Success stories like Mirius demonstrate how flexible investment can support a business’ strategy, providing capital to invest in new products, services and innovation – increasing their competitive advantage, even in challenging market environments.

“The management team is full of passion, ambition and skill and this will no doubt ensure the firm continues to capitalise on new and exciting commercial opportunities.”

Sourced from: Business Quarters

Post Author: Admin

Leave a Reply

Your email address will not be published. Required fields are marked *