Packaging firm TRM boxes clever
A NORTH West packaging firm is boxing clever as it embarks on an major growth drive.
Lancashire-basd TRM Packaging has agreed a funding deal with HSBC’s Liverpool-based commercial banking team which will support a £4m investment.
The Burscough-based company, which supplies boxes and packaging to the poultry, snacks, drinks and healthcare sectors, is planning to grow turnover from £25m to around £33m over the next two years.
Central to this has been investment in a new piece of equipment to improve output at the 230-strong company. TRM has bought a high-tech corrugator from a German company for €2.5m.
Trevor Maund, managing director of TRM Packaging, said: “We are committed to continually investing in and improving our business, and the latest funding provided by HSBC will support us in this strategy.
“We aim to provide products that help our customers achieve more with their businesses, and that is exactly the kind of banking support we have received from HSBC.”
As well as providing funding for the new equipment the HSBC team restructured
TRM Packaging’s financing facilities to include foreign exchange hedging products, which allowed the business to take advantage of the favourable exchange rates in the summer to buy the new machine.
Mark Tilleray, regional commercial director for HSBC in the North West, said: “TRM Packaging is a thriving North West business that is going from strength to strength, underpinned by a strong business strategy, and we are delighted to have been able to support the business in its latest expansion.
“In particular the hedging products we provided to TRM Packaging demonstrated the focus we place on supporting businesses in the most appropriate way for their individual needs.”
