Property deal boosts plastics firm

A NORTH West plastics manufacturer has bought its own premises as part of a long term growth plan.

Widnes-based PolyBlend UK, which was created last year after a MBO from its US parent, Polyone Corp, now owns the 27,000sq ft building, which houses its factory, warehouse and offices.

Royal Bank of Scotland provided a loan of £508,000 to support the acquisition from PolyOne.

PolyBlend, which was established in October last year, when managing director Mark Stewart, David Hall and Dominic Barrow bought the business, employs 21 staff and has a turnover of £9.5m.

The company makes PVC plastisols – a liquid form of vinyl which can heated to create a solid end product.  PolyBlend also distributes polymer additives including resins.  Its products are used in a wide range of market sectors including automotive, flooring, coated fabrics and dip moulding.        

Mr Stewart said: “We are pleased with the performance of the business during the last 12 months bearing in mind the difficult economic conditions and remain confident that we continue to grow and increase our market share.

“Purchasing our trading premises provides additional security for the business and is a key part of or long term strategy.” 

Ian McGee, relationship director for RBS in Liverpool said: “PolyBlend has performed well post buyout thanks to the strength and experience of its management team.  We are happy to support their future plans by providing a loan to help them acquire this site.”