Seven-figure investment will drive expansion at textiles company
Huddersfield-based Phoenox Textiles has acquired new equipment with support from HSBC UK.
A seven-figure funding package from the bank has enabled the family-run business to buy a Zimmer Chromojet Print Line and Colour Kitchen, quadrupling print output of the company’s recycled material products.
As a result of the equipment being installed and capacity being increased, Phoenox Textiles is aiming to reach new markets throughout the UK, including the hospitality sector. The business also plans to increase its exports over the next three years.
With the addition of this equipment, the company is anticipating a 30% increase in turnover.
Charles Mosley, director of the business, said: “Through innovative and considerable R&D development, we’re proud to have created a high quality, eco-friendly range.
“Through this investment with HSBC UK, we hope to reach more customers throughout the UK and bring our sustainable products to wider market.”
The firm, founded by Jack Mosley in 1954, is an independent manufacturer of flooring textiles, with over 200 employees working across two sites in Huddersfield.
For over a decade, the business has manufactured using recycled materials to create eco-friendly products for the likes of John Lewis and Dunelm.
Mike France, relationship director for North and West Yorkshire, HSBC UK Equipment Finance, added: “We could clearly see the benefits of this investment in terms of enabling an already popular business to increase output and achieve growth in new sectors.
“We’re delighted to support Phoenox Textiles with the acquisition of this equipment and commend the business for its commitment to sustainability.”