A packaging manufacturer is to double its workforce thanks to an £800,000 cash injection to install state-of-the-art production lines at its Telford site, it was revealed today.
Stafford Park based i2r Packaging Solutions, which makes containers for the food industry, was only set up last year but bosses say they are ready to push ahead with expansion.
The company secured the £800,000 of Access to Finance funding through Business Link in the West Midlands to invest in new facilities and create 11 new jobs.
Chief executive of i2r, which stands for innovation to reality, Peter Reay, said the firm already supplies key retailers as well as food manufacturers across the UK with premium, smooth wall aluminium foil containers.
He said the company, on Stafford Park 12 Industrial Estate, is hoping to double its workforce within the next 12 months.
“At a time when there is a national focus on reducing food packaging and ‘food miles’, we have entered the marketplace with a range of products that will help both producers and retailers to do just that.
“Our products use considerably less material while maintaining their strength and our central location, adjacent to the UK’s motorway network, enables us to respond quickly to changes in demand and customers needs without travelling or flying our products long distances.
“The funding from Business Link has enabled us to install new state-of-the-art production lines at our premises in Telford and in response to this, 11 new jobs have been created.”
The range of products, using up to 25 per cent less material than competitors, provides an environmentally-friendly alternative in a competitive marketplace. With its unique design, i2r is able to provide robust foil trays while using less material.
The company’s three directors, Mr Reay, commercial development director Jon West and chief financial officer Richard Chaplin, have a combined experience of more than 60 years in the food industry.
Alison Bradley, Business Link adviser, added: “i2r is exactly the type of business that our Access to Finance scheme is aimed at and the company has also had access to expert consultancy support through Wenham Major Chartered Accountants, assisting with the application for funding.
“As a result of our comprehensive support, an innovative new manufacturing business has started and new jobs have been created within the region too.”
The programme, which is available to all small and medium enterprises employing fewer than 250 people, seeks to provide a complete spectrum of support, from the impartial advice of business advisers to hosting educational seminars and workshops.
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