A Sheffield plastic product manufacturer is set to expand with the support of a six-figure funding package from HSBC UK.
Caledonian Plastics, established in 1966, produces a variety of plastic containers and components for commercial and industrial use at its Sheffield factory. With the backing of HSBC UK, the business has upgraded its 20,000 sq ft operation by purchasing a Czech-made blow moulding machine and automated packing table, allowing it to scale-up production by 20 per cent and reduce energy consumption.
The manufacturer’s upgraded production facilities will also enable the development of new plant-based plastic products to meet demand from industry and consumers. As a result of its investment, Caledonian Plastics expects to boost blow moulding turnover by 10 per cent in next 12 months.
John Laing, Managing Director of Caledonian Plastics, said: “We operate in a highly competitive market, so it is critical that we keep investing in our production facilities to ensure we can meet new and existing clients’ demands. With HSBC UK’s funding and guidance, we had the confidence and means to make this strategic investment in our future.”
Ryan Slater, relationship manager for South & East Yorkshire, HSBC UK, said: “Sheffield has an illustrious history of manufacturing, so we’re proud to support John and his team as they drive forward with their plans to raise productivity and explore new greener products. We look forward to seeing the business continue to flourish.”
Caledonian Plastics currently employs 28 people at its Holbrook site. It counts household names in the automotive, building and leisure sectors as its clients.
The deal was part of HSBC UK’s £1.05 billion lending fund to support small and medium-sized enterprises (SMEs) in Yorkshire.