Funding boost for UK converter

UK-based converter Caledonian Plastics is to expand with the support of a six-figure funding package from HSBC UK.

Established in 1966, Caledonian Plastics produces a variety of plastics containers and components for commercial and industrial use at its Sheffield factory, and has upgraded its 20,000 sq ft operation with the installation of a Czech-made blow moulding machine and automated packing table. This will allow the company 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 plastics 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 the 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.”

The deal was part of HSBC UK’s £1.05 billion ($1.35bn) lending fund to support small and medium-sized enterprises (SMEs) in Yorkshire.