A Denby plastics firm is investing £1 million in new machinery to help keep up with demand for its products.
HL Plastics negotiated the funding package with Santander and Nottingham-based Midlands Asset Finance to invest in new technology at its plant on Denby Hall Business Park.
The firm, which produces parts for windows, doors, conservatories, fencing, decking and piling was able to point to impressive growth figures to help secure the deal. Revenues in 2013 stood at £48 million, up from £31 million in 2011, an increase of 55 per cent.
Emma Arrell, finance director at HL Plastics, said: “Our firm has benefited from strong growth and demand from customers across the UK.
“We are continuing to invest in new technology as well as our people and see strong opportunities in our chosen sectors.”
HL Plastics employs around 400 people at its Denby offices and manufacturing plant.
In addition to its PVCu products, it is achieving success with plastic piling that is being used as a flood defence and water retention system.
There is also growing demand for the company’s PVCu decking, fencing and caravan verandah products, seeing success in both the domestic market and with holiday park operators.
Jon Bennett, relationship director at Santander Corporate and Commercial, said: “HL Plastics is a great example of a UK business investing for growth.
“We are delighted to support such a successful team.”