Waste company moves into manufacturing with £160,000 funding
A RECYCLING and waste management company is launching a new manufacturing facility for soft furnishings thanks to a cash injection through the Merseyside Special Investment Fund (MSIF).
Finance for Jem Recycling & Waste Management’s expansion plans has come from an investment package totalling just above £160,000 which includes £100,000 from MSIF through funds it manages for RGF and The North West Fund for Micro Loans together with the company’s own investment and asset finance.
The company is projecting a turnover of £1m this year, and is targeting revenue levels of £1.3m next year.
Newton-le-Willows-based Jem provides comprehensive waste and recycling services to dispose of packaging, office and hazardous waste. Its services include waste segregation and disposal, facilities management and the provision of equipment and personnel.
Customers include ScS Furniture, Synertec and Westbridge Manufacturing. The finance will fund the fit out of the manufacturing facility and growth capital which has been used to recruit seven new staff.
The business was set up in 2013 by Phil Robinson and he was later joined by sales director Debbie Richmond.
Mr Robinson said: “The funding has enabled us to set up a manufacturing operation in Runcorn which produces a high quality range of bean bags, throws and cushions. New products are expected soon including pet beds and foot stools.
“We are selling the products through retailers including Ponsford Furniture, Bella Chic and Taskers and also online through our website. There are also plans to open a factory shop at our site.
“In the future we plan to look at other areas we can use manufacturing to recycle waste for other customers as well as expanding our facilities management offer from core business.”
MSIF investment director Paul Humphray said: “Adding the manufacturing facility was a great idea. It will provide Jem with an extremely profitable new income stream and provides an environmentally friendly solution to waste disposal.”
