Manufacturer plans for the future with funding boost

West Midlands manufacturer Indasol has secured a finance facility to support the company during the Covid-19 pandemic and help shape its future product development plans.

Indasol supplies a range of specialist adhesives, sealants, tapes, industrial markers and application equipment for customers across the manufacturing, engineering, retail and automotive sectors.

Earlier this year, the company, with the support of HSBC UK, invested in new technology to expand into new markets.

However, faced with a significant reduction in demand from its core business market during the lockdown period, the company changed its business model with funding from HSBC UK, through the Coronavirus Business Interruption Loan Scheme (CBILS), to supply a sanitiser spray, RAMSOL, to meet customer demand.

Martin Sadler, group director at Indasol, said: “We took delivery of our new equipment back in March and then the pandemic hit and all of our core business markets ground to a halt. We knew that there was huge demand from across the sector for sanitiser products so we literally changed our business model overnight to ensure we could support our customers. We wouldn’t have been able to do this without the support of the team at HSBC UK and, in particular, our relationship manager Sarah Eyles.

“Our business is now back to operating at full complement as the demand for our new RAMSOL product has steadily grown. The product is really unique – it’s not a normal sanitiser but a food safe disinfectant spray which can be used anywhere and on any surface to kill bacteria and viruses without the need to wipe. We’ve seen significant interest from both new and existing customers for this.”

Mark Lupton, HSBC UK Greater Birmingham area director, added: “Providing the right support for our customers is crucial and we were pleased to be able to help the team at Indasol during this uncertain time. The new products they have developed will continue to support their customers as Indasol plans for the future and puts the company in the best possible position to grow.”