Posted on August 24, 2016Category: Case Studies Tags: Business Support, Growing The Humber, Investment Panel, Local Growth Fund
About the company
The business manufactures glass reinforced plastic building products. The business was recently split from the Paneltex Group to enable the business to reach its full potential. It was already operating at capacity in its existing premises and had exhausted all possibilities for creating more space having constructed several mezzanine floors and added a number of portable buildings and storage containers.
With an increased demand for general and bespoke building products the business needed to move to a larger site to increase manufacturing capacity and provide room for growth.
About the project
The business needed to make improvements to the new premises, which had been vacant for some time, to make them fit for purpose. In addition, the business invested in plant and machinery, the majority of which was acquired from the Paneltex Group at net book value.
As the majority of assets were purchased second hand, securing traditional forms of finance to support the investment was difficult and a Growing the Humber grant of just over £50,000 was valuable in enabling the business to achieve its goal. Without the grant the business would not have been confident to make such a significant step forward.
APC will take on additional production staff and also intends to begin a training programme for several younger apprentice roles. The business hopes to make links with a training programme developed by Siemens and delivered through Hull College.
Ron Beecroft, is Director of Associated Plastic Components Ltd and said “The benefits are already apparent. The company is able to respond to more customer demands without having to let orders go because deadlines are unachievable.
“We can now increase output because we have more production space and a better working environment for all staff throughout the offices and factory. As a result we can produce better quality products and develop new products for the future.”
£171,463 Project Cost
4 Direct Jobs