BNL grew substantially last year when Plastics Capital acquired competitor Cobb Slater and expanded the Knaresborough site.

Executive chairman of Plastics Capital, Faisal Rahmatallah, said BNL was a core part of the group’s business.

Speaking exclusively to the Harrogate Advertiser, he said: “BNL has strong growth potential because of its high reputation in the industry and high level of design skills.”

He said BNL, which manufactures plastics bearings and other rotating parts, had enjoyed a record year in terms of both sales and profits.

Mr Rahmatallah said considerable work had gone into organisational development at BNL over the last 12 months to enable the business to drive and manage its growth. New appointments had been made in the positions of managing director, supply chain director, finance director and new product development director. Two have been appointed from internal promotions. In addition, Neil Partlett, the managing director for the last six years, has moved into the role of chairman, enabling him to devote his time to the strategic development of the group.

Mr Rahmatallah said: “It’s been a transformational year for Plastics Capital and a very busy year in which we have transformed it from a small private business to an AIM listed company.

“For the next 12 months, we anticipate significant growth in sales and profitability as the full impact of acquisitions made in the last financial year is felt, and as new business in the same period is converted into orders.”