Diamond Box shines after £3m investment
A WEST Midland packaging manufacturer which supplies a host of high street and online brands has invested £3m into the growth of the business.
The West Bromwich-based firm is looking to capitalise on new opportunities after seeing turnover grow to £21m in its first five years. It is now targeting £30m in sales.
The firm, which was last year supported by a funding injection from HSBC’s Midlands Commercial team, has been able to increase its volumes by 50% to ensure it can meet growing demand, especially at peak times such as Christmas.
The new machines installed by the business are also helping to improve lead times for customers and speed up turnover for conventional work.
One of the new additions, a five-colour Bobst High Quality Printer, will also help the company to break into new sectors including the high quality post-print and value added market.
Kavi Jundu, CEO at Diamond Box, said: “We’ve always been highly invested, which has served us and our clients well over the last five years as we’ve grown from a £7m start-up, to today’s £21m turnover business. The plan is to have an infrastructure in place to realise our next sales target of £30m.”
Founded in 2007, the company specialises in cardboard box manufacture, providing customers with a very competitive lead time. Its products range from the simplest brown box to complex retail-ready packaging.
The company manufactures packaging for the distributor, food and fast moving consumer goods markets. Clients include supermarket chain Morrisons, kitchen and cookware manufacturer Tefal, fine China manufacturer Portmerion Potteries, as well as some of the largest high street and online retailers.
It used the asset-based finance agreement from HSBC to purchase equipment to enter the mail order and online sales markets. The equipment produces innovative ‘multi-point gluing’ boxes that can be used to package a range of products typically purchased online and posted, such as CDs, DVDs, books and items of clothing.
