23 September 2009
£1.2 million to secure future of 227 jobs in Lancashire
The Northwest Regional Development Agency (NWDA) continues to
ensure regional businesses have access to finance throughout the
credit crunch, offering TRM Packaging Ltd (TRM) £1.2 million from
the Grants for Business Investment programme.
Based in Burscough, TRM’s main activity is the manufacture and
print of corrugated packaging, predominantly for food manufacturers
who supply supermarkets.
The company currently employs 227 people and is one of the main
employers in the town. The company will invest £12 million in plant
and machinery to increase capacity and capability without
significantly increasing costs or overheads.
The UK market for corrugated boxes exceeds £1.3billion; of this
TRM Packaging has a 2% share. One of the main growth areas in which
the company specialises in, is the ‘retail ready packaging’ for the
food production sector with 80% of the company’s customers in this
area.
With assistance from the NWDA, TRM will be able to increase
sales from £30 million to £40 million over the next 3 years, as
well as ensuring 227 jobs are safe. The project will also enable
TRM to reduce waste by 25%. Without GBI support the project will
not go ahead, TRM will become less competitive and lose market
share.
Mark Hughes, Executive Director of Economic Development at the
NWDA said:
“TRM Packaging is one of Burcough’s top employers, so it is
vital that we ensure that the company does not suffer as a result
of the economic downturn, putting 227 jobs at risk.
“The NWDA Grant puts TRM in a good position for significant
growth – with just a little help from us, the company is well known
to offer bespoke packaging solutions to meet a range of customer
requirements, including markets that are bucking a declining
trend.”
Trevor Maund, Managing Director at TRM Packaging Ltd said:
“I am delighted that the support from NWDA will enable TRM to
make this £12m investment in its operation at Burscough to ensure
the company’s competitiveness and to enable TRM to meet the needs
of its customers for many years.”
GBI is supported by Business Link Northwest’s Access to Finance
service.
The NWDA is playing a crucial role in response to the current
economic downturn, with a number of actions being taken to meet the
needs of businesses during these challenging times.
To keep updated on the range of support being offered by the
NWDA go to www.nwda.co.uk/supportingbusiness
For more information on business support visit www.businesslink.gov.uk/northwest
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Notes to editors
For further information please contact Shelley Tattersall, Press
Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925
400259.
For further information and to view previous press releases visit
us at www.nwda.co.uk/press
The NWDA is supporting businesses and prioritising investments
to ensure that the Northwest is in a strong position to respond to
the current economic climate. Initiatives include:
• The launch of a £10m High Growth business support
programme
• A new £4m Innovation Voucher Scheme to help 1,000 businesses
work with our knowledge base
• Dedicated Access to Finance support within Business Link
Northwest – now available
• £140m Venture Capital Loan Fund (VCLF) - to be launched in
2009
• £40m package of support to stimulate investment in priority
skills development - to commence in 2009
• 10 day prompt-payment pledge to our suppliers to help with
cash-flow
For more information, see nwda.co.uk/business
The Northwest Regional Development Agency (NWDA) leads the
economic development and regeneration of England's Northwest and is
responsible for:
• Supporting business growth and encouraging
investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and
communication infrastructure
• Promoting the region’s outstanding quality of life