Stockton-based business Billions Europe, which sells high-performance titanium dioxide (TiO2) pigment, has secured funding worth around £16m from HSBC UK to grow sales and improve its efficiency across its European markets.
Billions Europe plans to use HSBC UK’s financial support to place more stock in warehouses across Europe, helping to substantially reduce delivery times.
The business has also appointed two new sales managers for the European region, one based in Germany and the other in Stockton-on-Tees, with more appointments expected.
Billions Europe managing director Fiona Macleod said: “HSBC UK has supported us from the beginning, when we set up Billions Europe in 2014 as a multi-million, multi-currency global business.
“We’re delighted that the bank has continued to support our growth with this latest funding, so that we can continue to increase sales and expand our footprint across Europe.”
Ben Foster, HSBC UK relationship director, said: “Billions Europe has very clear and ambitious plans for growth across Europe and we are pleased to support a strong North East business with global ambitions.
“The next phase of its expansion strategy is key and we look forward to seeing the benefits this brings to the business and to the North East.”
Billons Europe currently employs 12 people in the North East and a small international sales team across Europe and the United States. Its parent company, Lomon Billions, employs over 7,000 people worldwide.
TiO2 pigment is a white inorganic compound that has been used for around 100 years in a vast number of diverse products worldwide, including paints, inks, plastics and paper.
The global market for TiO2 pigment was approximately £14 billion in 2018 and is expected to grow to around £18 billion by the end of 2025.
- Pictured above (left to right): Fiona Macleod (Billions Europe), Ben Foster (HSBC), Jess Howarth (HSBC) and Rod Currie (Billions Europe).