Droitwich-based Chess Plastics Ltd, has purchased a state-of-the-art injection moulding machine to cater for exceptional demand for its services. The company made this investment following the granting of a £184,000 asset finance facility from Santander Corporate & Commercial.
Established in 1968, Chess Plastics has grown over the past five decades into a leading supplier of hi-grade plastic products and become a specialist in large-size and high-volume manufacturing. Around 40% of its sales are to the UK automotive sector, where the firm has become second-tier suppliers to marques such as Jaguar Land Rover. Other key sectors for the firm include garden furniture manufacturers, the housewares sector, and the brewing industry.
As an indication of the increase is demand, Chess Plastics’ sales totalled £8.5 million for the past 12 months – up 30% on previous year. To manage this strong demand from clients and also allow the firm to seize further new business opportunities, the funding from Santander Corporate & Commercial has been used to acquire a Negri Bossi e-Vector V800-6700 injection moulding machine. It has also allowed Chess Plastics to take on three more staff.
Gareth Olden, Director, Chess Plastics Ltd, said: “We have had a strong year of growth and are in an excellent position to invest for the future. The purchase of this new moulding machine is central to our long-term growth plans, and the funding package and support from Santander has been instrumental.”
John Hyde, Relationship Director, Santander Corporate & Commercial, said: “Chess Plastics is a great example of a local firm at the heart of the UK economy. The firm is showing strong signs of growth and this latest investment in the hi-tech machine is a clear indication of the firm’s appetite for expansion and focus on product excellence.”
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Notes to editors
For media enquiries regarding Chess Plastics Ltd please contact Gareth Olden on 01905 794 405
For Santander Corporate & Commercial media enquiries, please contact:
Bijal Tanna 020 7756 4189 Mobile: 07860 259 217
Andy Smith 020 7756 4212 Mobile: 07824 473 338
The Santander Corporate & Commercial press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.
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