Brayford Plastics invests in the future
Brayford Plastics, one of the UK's largest manufacturers of re-sealable and conventional polythene and polypropylene bags, has through negotiations over the last six months agreed new funding lines with their bankers NatWest and the asset finance provider Lombard, to invest further in their Dunholme based operation.
- (1888PressRelease) August 12, 2011 - The company was established in Lincoln in 1969 next to Brayford Pool, hence the company name, by a group of local farmers mainly to manufacture bags for packing locally grown produce. In 1972 they moved to Dunholme, a site which has been expanded greatly during the following years. Today the site is one of the most modern BRC accredited production facilities for bag and film products in the UK, housing film extrusion, the latest in flexographic print technology as well as high speed conversion and slitting machines.
NatWest backed the acquisition of Brayford Plastics by current owners Brian & Janet Parr in 2006. The new facilities sees the bank extending further funds to modify the premises at Dunholme as they continue to adapt their production capacity to meet customer demand for their products and to remain at the forefront in environmental compliance.
Brayford have also sourced and purchased through leasing agreements with Lombard, three new items of machinery which will enhance their production capacity. Firstly they have taken delivery of a further wicketted bag machine to produce bags, predominately used in the frozen food, bakery and fresh produce markets. Installed in April was a further W and H eight colour printing press which incorporates the very latest controls for colour and print consistency together with the potential for higher running speeds up to 500 mtrs/min. Finally yet another wicketted bag machine has been ordered and is due for commissioning.
Commenting on these latest developments, Andrew Riley, chief executive of Brayford said: "This continues the company policy since Brian and Janet bought the business of removing old equipment and investing in the latest technology available to gain competitive advantage and place us at the forefront of the industry in terms of innovation, productivity and product quality. This latest investment programme brings the total amount invested at the site since 2006 to more than £4.75million."
The funding packages have been arranged through their relationship manager at NatWest, David Greenough. He added: "Brayford Plastics have successfully established themselves as a leading player in the UK market for the manufacture and supply of printed film and bags. This level of investment is a key statement of intent for the plans the directors have for the business over the next few years. It is also evidence that local firms are willing to invest post recession in growth objectives."
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