Radcliffe-based chemical manufacturer West & Senior Ltd has set up an Employee Ownership Trust after securing a £1.25 million term loan from Barclays.

This will allow director Stephen Senior to reduce his stake in the family-owned business; it also provides security and continuity to employees, who will have a greater say in company decisions.

Established in 1952, West & Senior Ltd has over 60 employees (www.westsenior.co.uk).

Its main activities include the manufacture of pigment dispersions and additive blends used in the polymer, rubber and allied industries.

These are supplied as liquids, pastes, single-component powders or powder blends. Customers range from multi-national corporations and household names to new businesses.

The company currently supplies more than 3,200 tonnes per annum (mostly pigment dispersions) and exports over 50% of its output; it has a turnover of £13 million per annum.

Director Stephen Senior said: “Barclays has played an integral role in the establishment of the Employee Ownership Trust.

“They have been able to structure a funding package that suits our long-term needs while giving our workforce security, continuity and a greater say over the future direction of the business.”