Pictured above: (l-r) Jonathan Saunders from the Apollo Chemicals Group with Caroline Dredge and Nigel Wood from Yorkshire Bank

A growing Midlands adhesive company is sticking with its successful business formula as it expands into new markets overseas.

The Apollo Chemicals Group, which comprises Tamworth-based Apollo Chemicals Limited and Raleigh Adhesives Coatings Limited in Eccleshall, near Stafford, manufacture commercial and industrial adhesives, self-adhesive tapes and coatings for a wide range of industries and markets.

Now with group turnover around £18 million per year, the business is aiming to explore new markets and expand into Europe and beyond with backing from Yorkshire Bank's Financial Solutions Centre in Birmingham.

Jonathan Saunders, managing director of the privately owned family business, said there is now a commitment to develop export sales and has recently appointed an experienced multi-lingual business development manager to facilitate this.

"We're looking to gain further business in the UK, Europe and further afield," he said.

"The exchange rates are in our favour at the moment and there are some big markets to explore from an exporting point of view. As we secure a portion of this potential business overseas it would significantly contribute to our company's growth plans.

"We presently have the UK market well covered, therefore it is logical to pursue more potential business overseas.

"Our products are used in a vast range of applications from structural panels for the construction industry through to fabric lamination for the lingerie market and that diversity has been a big help in the recession."

Robert Saunders, chairman of the group which employs a total of over 100 people, has been delighted by the company's performance in what have been very difficult times for most business.

Apollo Chemicals which focuses on manufacturing high performance polyurethane and solution adhesives was formed in 1972 and Raleigh Adhesive Coatings started as a direct spin-off from that over 20 years ago to specialise in the custom coating of adhesives.

Saunders commented: "Moving forward we will continue to drive innovative products in our established markets in the UK as well as explore overseas opportunities."

Nigel Wood, business banking partner at Yorkshire Bank in Temple Row in Birmingham, said the relationship with the Apollo Chemicals Group began following an introduction from their accountants.

"The company has performed excellently despite the economic conditions and they are now seeking to expand throughout Europe," he said.

"We are providing the company with a full range of banking facilities from international to asset finance and I am sure this will be a partnership that will go from strength to strength".

"We both have the same values of creating long-term partnerships with our customers and employees and we wish Jonathan and his team the best of luck in expanding their business overseas."