Manufacturer bags funding for new machinery
A Lincolnshire based manufacturer has secured funding to purchase new machinery.
Forum Packaging, based in Horncastle, will be using the funds to buy a new printing press which is currently being built in Italy.
The company, which was established in 1964, manufactures and prints paper sacks and has become a leading paper bag supplier.
The new printing press will enable the company to increase output following a recent demand in orders as retailers and consumers move away from the traditional plastic bag.
Rob Massey, managing director, Forum Packaging, said: ”This latest purchase will help us fulfil the rising levels of orders we are receiving and to realise our ambitious expansion targets for the future.”
Alastair West, Barclays relationship director, added: “This is a significant investment for the company and pivotal milestone for the future of Forum Packaging as it paves the way for further expansion and growth. The management’s ambitious plan is testament to their success and we’re delighted that we’ve been able to support them with this funding.”
Non-executive director Jeremy Wetherall, Queensgate Financial Management, was also involved in the transaction.