Plastic fantastic for Duo UK
POLYTHENE and packaging products specialist Duo UK has secured a multi-million pound funding package with NatWest and the bank’s invoice finance arm, RBSIF, to assist with the firm’s growth plans.
Founder and managing director David Brimelow established Duo in 1988 and in the years since has secured its position in the packaging industry as a trusted supplier.
Now employing 130 people across its Manchester and Derby sites, Duo – the winner of TheBusinessDesk’s 2015 Business Masters SME manufacturer of the year award – can name some of the leading brands in retail, mail order, e-retail and industrial sectors among its long standing customers, including ASOS, Tesco, JD Williams, Keep Britain Tidy, Enterprise and Viridor.
The funding from NatWest will allow Duo to execute its plans to enter new markets, develop fresh products, launch new brands and build on Duo’s fledgling export business.
Part of this strategy is a renewed focus on sustainable packaging, which Duo has identified as a key trend for the future. Duo has increased its recycling capability and developed new technology which widens the application of recycled polythene and was the first UK company to produce mailing bags using Green PE which has negative CO2.
To cater for this growing market, Duo will be launching DuoGreen.co.uk as the home of its sustainable products and services. The platform will also act as a knowledge hub to help buyers learn more about packaging technologies and strategies to help achieve corporate CSR targets.
Mr Brimelow said: “We’ve been established for well over two decades, but we’re always looking to grow our business and develop new products and services for customers.
“The launch of DuoGreen is one part of this strategy and developing our export business is another.
“The UK ecommerce market is among the most advanced in the world, so as online shopping becomes increasingly popular in America and other parts of Europe this presents a real opportunity for us which is why we approached NatWest.
“When the business started we banked with NatWest but during the economic downturn we moved our banking facilities elsewhere. However, the service and expertise we had received while with NatWest meant we were keen to work with them again so it was great news when we realised they were anxious to help with this new project.”
Relationship Ddirector Paul Bradbury said: “I was delighted to support Duo UK on this funding agreement. The business continues to grow in a competitive market and I wish the business every success for the future.”
The deal was also supported by the bank’s structured finance team.
Director Steve Alcock said: “Duo UK continues deliver exceptional products due to its commitment to innovation. We wish the business every success in achieving its business growth aspirations.”
