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Jobs in the production line for packaging firm
by Chris Knox - 26/02/2010
"A COMPANY that recycles household plastics for the food packaging industry is investing in a second production line as it aims to build sales from £9m to £16m within 18 months."
Thermodynamix Thermoforming Specialist Services (TDX) plans to install a second Recycled Polyethylene Terephthalate (RPET) plastic extrusion line at its plant in Team Valley, Gateshead, which it said would double production and increase its 70-strong workforce.
The second line, brought in from Milan, will see the firm’s turnover almost double to £16m and follows recent growth from £3m to £9m in the last three years.
The firm was launched 10 years ago to design and manufacture production tooling for food packaging makers before moving on the provision of plastic mouldings to the industry.
A shift in the sector towards more environmentally-friendly packaging saw the company investing in its first RPET machine, which saw it create 20 jobs last year.
The company now plans to install a third line in just over two years’ time, depending on the success of the new investment, which would create another 12 jobs and grow its sales further.
The expansion has been funded by an injection of equity from existing shareholders, mezzanine finance from Newcastle-based Evolve Finance and asset finance from Yorkshire Bank.
The machines, which cost between £1.5m and £2m, recycle plastics used in household food containers and create extruded plastic sheeting which is then sent to packaging firms to tailor the products to sell to food firms.
The new installation, which will become operational in July, will take the site’s total capacity to 12,000 tonnes per annum of finished product and will result in nearly 13,000 tonnes of post consumer PET bottles, such as mineral water and carbonated drinks bottles, being diverted from land fill.
Around half of the plastic sheeting, which will be transformed into everything from yoghurt pots to salad trays, will end on the shelves of Marks and Spencer via Sedgefield-based packaging manufacturer Reynolds Food Packaging.
Managing director Mark Prinn said: “While certain aspects of trading through a recession present challenges our focus on the food packaging sector and in providing a sustainable recycled material means we are active in relatively resilient growth sectors.
“This has allowed us to grow the business consistently year on year, improve our bottom-line performance and invest heavily in staff training and new equipment.”
The firm also recently landed a £1.5m contract to supply its products to Danish firm Plus Pack and said it is continuing to prove successful in India, Canada, Greece, Czech Republic, Portugal and Republic of Ireland.
Mr Prinn said: “This is a significant investment and real boost for North East manufacturing especially given the recent doom and gloom.
“What it does show is what can be achieved when a well-run efficient business focuses its activities and investment in the right market sectors”.
More Details: http://www.nebusiness.co.uk/business-news/latest-business-news/2010/02/22/jobs-in-the-production-line-for-packaging-firm-51140-25884101/