WHEN Thomas Chadwick established his business in 1864, Yorkshire had an abundance of wool scouring plants.
The county’s textile trade was the envy of the world.
Today, Thomas Chadwick & Sons is one of only two wool scouring plants left in Britain.
The company is about to enter a new phase in its development, after acquiring its freehold site in Dewsbury, West Yorkshire, for an undisclosed sum.
Funding for the investment was provided by PNC Business Credit as part of a £15m package.
Apart from providing wool processing services for Standard Wool’s merchant business, Thomas Chadwick & Sons also counts some of the industry’s other leading wool merchants as its clients.
At the Dewsbury mill, freshly shorn ‘greasy’ wool is cleaned and treated ready to be spun into yarn.
Mark Andrews, general manager of Thomas Chadwick & Sons, said: “The purchase of the freehold of the processing plant provides us with the solid foundation on which we can continue to invest.”
Paul Hughes, the managing director of Standard Wool Group, said: “The investment is testimony to Standard Wool Group’s commitment to the British wool market, and demonstrates the support of our funders, who believe in the future of the business.”
Apart from the UK, Standard Wool has operations in Chile, China and New Zealand. It employs more than 150 staff and exports wool to over 30 countries.
Thomas Chadwick & Sons, which was sold by the Chadwick family to Standard Wool in 1988, employs 60 staff.
Standard Wool’s most recent full year turnover was £50m.