A 155-year-old family-owned manufacturer has its sights set on a turnover of £75 million after making major investments in its Yorkshire and South Africa operations to capitalise on the growing market for rechargeable batteries.

Thurlstone-based James Durrans Group (www.durransgroup.com) supplies carbon-related products that are used in lithium-ion batteries, jet engines and vehicle brake pads.

It received a multi-million-dollar US trade finance facility from Lloyds Bank to support the import of the raw materials that it uses.

This has helped the business, which operates at nine manufacturing locations world-wide, to release the working capital needed to invest in new resources — including two new jet mills for its UK operation, which will enable it to produce a finer grade of carbon.

The business has experienced significant growth over the past few years, with the demand for rechargeable-battery technology increasing across the globe.

As a result, international trade now accounts for 53% of its revenue.

Managing director Chris Durrans said: “While we operate in many industries and sectors, the rechargeable-battery market in particular presents us with a great opportunity, and we’re investing in our plants globally to meet market demand.

"However, the price of key raw materials has more than doubled over the past few years, putting cash-flow pressure on the business.

"The trade finance facility from Lloyds Bank gives us more flexibility with our finances.

"It’s helping us to import raw materials at the currently high price, without that depleting our capital or stopping us from investing in growth.”