Coral plans to increase production

PACKAGING business Coral Products has made a strong start to its financial year and says that it will be increasing the production of new lines to meet demand.

Haydock-based Coral used to focus on DVD and CD cases but has seen its trading performance improve by diversifying into other moulded plastic products such as recycling bins.

The £17m turnover company has adopted a five year plan aimed at increasing group revenue and profitability from its specialist plastic products manufacturing and distribution activities. 

Earlier this month the company raised £900,000 to help bring new manufacturing processes online.

Ahead of the company’s AGM today, chairman Joe Grimmond said: “I am pleased to report that Coral has made a strong start to the current year and that trading is in line with market expectations.

 

“Since announcing our year end results in July, we have completed the integration of the assets recently acquired from Neiman Packaging Limited, transferring its operations to our wholly owned Haydock site. 

“Demand for these products remains strong and we expect to increase production in our second quarter to meet this demand.”

 

He added that the group’s focus on seeking new business in growth areas continues.