Paper firm Matryx powers ahead with investment

A MANUFACTURER of disposable paper products has bought its premises and invested in new machinery after sealing a near £2m funding boost.

Matryx of Royton, Oldham, has secured a £1.88m funding package from Yorkshire Bank and acquired the freehold for 140,000 sq ft of production and warehouse space at its main site at Woodstock Business Park.

As part of an overall investment of £5m, the £24m turnover company has installed of new machinery for making rolled paper products, which will boost production as well as operational efficiency.

Established in 1985, Matryx offers a comprehensive range of hygiene and wiping products including toilet rolls and paper hand towels.

The latest investment is part of an ambitious growth strategy that will also expand the current 60-strong workforce by creating 15 new jobs in the coming months.

Nigel Samuel, Matryx owner and chief executive said: “There is no doubt that 2012 has been a tough year and margins have been tight – but we have still managed to continue growing.”

Matryx had previously rented its premises since 2006, and recently acquired most of the industrial estate using its own resources and funding from Yorkshire Bank’s business and private banking centre in Bolton.

Andrew Frizzell, business development manager at Yorkshire Bank, said: “Matryx is a highly efficient supplier of hygiene products, with sound financial management and a keen awareness of potential market opportunities.

“The firm’s new machinery for its range of rolled paper products means it is ideally positioned to respond to growing demand. We are very much looking forward to working with the team as they take the business to new levels.”