PolyGlobal aims for acquisitions and new factory

An engineering plastics manufacturer is looking to acquire more businesses to sit under its brand as well as new factory space.

Jordan Cook the MD of Polyglobal, Thornes Lane, Wakefield..19th February 2019.Picture by Simon Hulme

Wakefield-based PolyGlobal, which provides materials to a variety of industries from offshore oil and gas to agricultural businesses, hopes to strengthen its presence in the city.

The company, which was established in 1985 and today employs around 30 staff, has undergone a rebrand.

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Jordan Cook, managing director of PolyGlobal, told The Yorkshire Post: “The PolyGlobal brand is looking to expand even more. My intention for the business is to hopefully acquire a few other businesses to put underneath the brand in the next few years.

Jordan Cook the MD of Polyglobal, Thornes Lane, Wakefield..19th February 2019.Picture by Simon Hulme

“Mainly a new factory is what I’m aiming towards. Something that’s a bit more energy efficient and that allows the business to streamline.

“The reason behind the PolyGlobal brand is to allow us to diversify into various different markets, mainly engineering based.”

Mr Cook, whose family set the business up, sees PolyGlobal doubling the size of its workforce as a result of acquisition and new factory space.

“It would be nice to create up to another 30 to 35 jobs,” he added.

The managing director says that the business would remain in Wakefield, when it realises its ambition of opening a new factory, to avoid disruption to its staff.

Mr Cook said: “We’ve got a lot of loyal people that work for us and have been a part of the business for a long time. Therefore it’s important that the business stays loyal to its staff.”

He added that the company would probably keep its current base as well.

“Certainly acquiring other businesses will allow us to grow,” Mr Cook said. “The main thing is that the business remains within the Yorkshire region and continues to provide internationally.”

Export sales are “very important,” to PolyGlobal says Mr Cook. He added: “It’s nice to be able to say that we are from Yorkshire and that we still manufacture products to go overseas.”

Andy Young, sales manager at PolyGlobal, said: “We’re about 40 per cent exports at the moment. Our biggest growth customer last year was in Germany.”

The company also imports a large proportion of its raw materials for the European Union.

Staying in the EU is the best option for the company, as no other agreement would improve the current benefits PolyGlobal enjoys.

Mr Young added: “If there is a deal it is unlikely to bring more benefits to the business than the current relationship we have. Generally, most of our stuff is delivered on a very short lead time.”

Despite this, Mr Cook believes that the niche nature of the industry they are in means that PolyGlobal will still have opportunities in the future.

Mr Cook said: “We provide so many products into niche markets, which is essential for day-to-day manufacturing or other processes.

“However, the import tax is going to be an issue for our customers and they’re going to have to bite the bullet on that one.

“It could be a matter of us having to change the way that we ship our products in terms of timescales, mainly send in bulk, but overall I’m not too worried.”

Mr Cook took over the running of the business from his father, who stepped back after suffering a heart attack. The business had also been gutted by a fire in 2010. He is now the sole shareholder.

Working with university

PolyGlobal has been working with Bradford University’s Polymer Engineering Industrial Research Centre to carry out additional testing and to demonstrate the capabilities of specific materials to show how they are suited to different applications and environments.

John Steele, from the university, said: “We are committed to developing a long-term partnership with PolyGlobal in order to embed new technologies that will ultimately be transformative for the company both technically and commercially.”

Jordan Cook said it was important to innovate and not fall behind.