, a leading pneumatics and compressed air distribution supplier, has secured a business development grant with the support of Bradford Council’s Invest In Bradford Team and the Leeds City Region Enterprise Partnership (LEP).
The LEP and authority’s businesses development officers helped Thorite secure a £100,000 grant from the LEP to invest in the firm’s new 40,000ft2
site in the town.
The new grant will assist the company to expand and centralise its Bradford operation bringing together the firms’ sales and service centre, aftermarket support, systems design, training academy and national distribution centre.
The LEP and Bradford Council’s business advisors successfully guided Thorite managers through an application which was approved by the LEP in April.
Thorite’s new central Bradford site more than doubles the size of the older facility in Laisterdyke and will offer the company’s customers a complete ‘one stop shop’ experience and a greater choice of pneumatic, hydraulic and fluid power products.
The new centralised operation is expected to bring greater integration, coordination and productivity to the firm allowing it to further develop and nurture key customer relationships and new product development. It will feature a new sales and service centre showroom and trade counter built alongside a new product showcase area to promote Thorite’s extensive product range.
Last year, Thorite turned over almost £20 million and its latest move will give the firm a strong strategic base to achieve ambitious growth plans.
A family-owned business since its foundation in 1850, Thorite has grown to become the UK’s largest distributor of pneumatic and compressed air products and process systems.
From its head office in Bradford, which is also the company’s national distribution centre, sales and service centre, service administration and systems division, Thorite has expanded to create a regional network of sales and service centres in Blackburn, Bolton, Bristol, Doncaster, Huddersfield, Leeds, Rochdale, Sheffield, North Shields and the West Midlands.
Councillor Susan Hinchcliffe, leader of Bradford Council, said: “Firms like Thorite are vital to the Bradford district and regional economy and we are delighted to be able to assist it with this important grant which will boost productivity, support growth and create jobs.”
Thorite managing director Stephen Wright said: “We are now in a position to move ahead with this exciting new chapter in Thorite’s future. The new building will provide us with room to expand and support our plans to grow Thorite to be a truly national company, headquartered in Bradford and we expect to move in by January 2021.”
Roger Marsh, chair of LEP and NP11, said: “Boosting productivity remains a priority for the LEP and I am delighted that we have been able to support businesses across the region. A key part of the Local Industrial Strategy is to close the productivity gap with the rest of the UK; doing so would mean more better-paid jobs, improved living standards and could add £11 billion to the region’s economy.
“I would encourage all businesses to get in touch with the LEP and find out about the support available to improve productivity”.
This project received investment from the LEP, delivered by the West Yorkshire Combined Authority, through the Leeds City Region Growth Deal – a £1 billion package of Government investment to accelerate growth and create jobs across the Leeds City Region.