LONDON Fortis, an international provider of banking and insurance services, is to provide additional funding of around £1.1million to HK Wentworth Ltd. having already invested £2 million in the group.
The money will be provided to Electrolube (Swadlincote, England), a division of HK Wentworth, a manufacturer of electro-chemicals for the electronics industry. The initial deal will run for two years, with the possibility of extension. Fortis’ investment will be used to improve Electrolube's international sales and technical support and research & development capability.
“The funding will enable Electrolube to bring to the market new products currently under development and expand global market share. It will allow us additional resources in terms of sales and technical support in Europe, China and Australia, and additional product testing and development resources in terms of people and equipment, said Ron Jakeman, managing director of HK Wentworh.