Coral Products invests £600K
Coral Products, the Merseyside-based design, manufacturer and supplier of injection moulded plastic products, has bought the assets of a rival mouldings manufacturer that went into administration.
It has bought various injection moulding machines some with robot handling, chillers, mixers and cranage from the administrators of ICM Ltd for £600,000.
The company also said its Haydock facility has been approved by two major multinational tier one automotive system suppliers to supply a number of components.
“Whilst volumes are not yet formalised we confidently expect this to lead to substantial new business throughout our next financial year,” it said in a stock market statement.