Plastribution to grow with RBS funds
Ashby-de-la-Zouch-based distributor Plastribution has secured funding from RBS to expand its international presence and increase the number of apprenticeships it can offer.
The company, which supplies polymers and plastics raw materials, has reported double-digit revenue growth over the past two years – up from £41m in 2009 to £62m in 2011.
Plastribution currently supplies a mainly UK customer base but sources materials from a global supply chain. The company said it is now "increasingly" dealing with international stakeholders and secured the undiclosed funding from the bank to deal with demand.
It also created two apprenticeships this year and now wants to invest in vocational education as part of its growth plans.
Mike Boswell, managing director of Plastribution, said: "We believe there are further growth opportunities in both the UK and international markets. Our investment in research and development continues to reap rewards.
"It is important to be at the forefront of market innovation as this provides first mover benefits, but it also requires large investment, so we need finance partners who understand what we are seeking to achieve and are willing to back our strategy."
