Plastics firm seals growth funding

A LANCASHIRE plastics manufacturer is set for European expansion and a 15% turnover hike to £10m after sealing a £3.7m funding deal.

Weltonhurst, based at a 100,000 sq ft manufacturing and distribution plant in Blackburn, specialises in the provision of technical plastic blow mouldings to more than 75 clients in the UK.

The firm makes a wide range of products ranging from small one-litre watering cans to large two-metre long road traffic barriers.

The company is looking to take advantage of the invoice finance package provided under Yorkshire Bank’s Investing for Growth initiative to increase turnover from £8.6m to £10m in the next 12 months.

Launched in 1966 and employing 130 people, some of Weltonhurst’s major clients are suppliers to retailers including Tesco and B&Q.

Andrew Fish, financial controller at Weltonhurst, said: “With the financial support, and more flexible banking arrangements, the management team can now concentrate on the core activities of the business.”

The firm works in the leisure, healthcare, industrial and automotive sectors and works on a product’s complete manufacturing process, from initial design concept, to product finishing.     

Garry Birchall, business partner at Yorkshire Bank’s Blackburn Financial Solutions Centre, said: “Weltonhurst is a real local success story and we are pleased to welcome them to Yorkshire Bank.

“The business has ambitious yet achievable growth plans and we look forward to helping them hit their objectives and increase their client base.”