Posted on August 24, 2016Category: Case Studies Tags: Business Support, Growing The Humber, Local Growth Fund
About the company
Sherwood plastic Products Ltd manufactures tamper evident security seals for a number of high street clothing retailers, including Next, JD Sports and Edinburgh Woolen Mill. The company has been operating in this sector for over 20 years and has established a loyal customer base.
Increasingly large orders are being received for both existing designs and new, customer-specific seals which has the potential to lead to rapid business growth within a couple of years.
About the project
In order to achieve full growth potential, the business needed to increase capacity through investment in new machinery, installation of a new vacuum conveyor system and extension of the current factory building to provide new office accommodation and allow for the reconfiguration of previous office space for production.
As the business was operating at high turnover and investment, with a factoring facility close to its limit, the awarded grant of just over £32,000 supported the company’s cashflow so that they could make the investment with confidence.
The investment will create five Production Operative jobs and one Machine Setter job within a year, with further jobs to follow in future years.
An added benefit of the investment is that through this job creation, one person who had previously been unemployed for some time, has been helped back into sustainable employment.
There will also be growth in future work for Sherwood’s contractors for the repair and maintenance of the additional machinery.
The project will enable Sherwood to both expand the volume and the range of products by adding more capacity and flexibility.
Susan and Brian Hood are Directors of Sherwood Plastic Products Ltd and say “The new machine gives us the capacity to increase production to supply our customers’ needs as they are expanding. It will increase production by 12%.
“Larger batch production runs will be possible with shorter lead in times and this will allow Sherwood to gain new business from both its current customer base and new customers.”
£107,758 Project Cost
6 Direct Jobs