Pargat Housewares, based in the West Midlands, manufactures more than 450,000 pieces of bakeware each week. But the firm hopes to grow further following completion of a new warehouse and product development unit in July 2013, paid for by the FLS-funded commercial loan.
The expansion of the premises has safeguarded 60 jobs and is set to create another 30 this year. The company employs 120 people altogether.
New warehousing and R&D facility
Narinder Kaur, Head of Sales and Finance at Pargat Housewares, worked with NatWest Senior Relationship Manager Neil Mellings to arrange the financing. He says: “With the new warehousing and R&D facility we will be able to further expand our international markets and product development. Thanks to Neil and his team at NatWest we can continue to grow the business. We have had a great working relationship with NatWest and they have been there to support us when we’ve needed it for over 15 years.”
The firm was founded by Inderjit Singh in 1976, became a limited company in 1998 and began working on the principle of batch production. The new build will help facilitate high production rates and Pargat Housewares expects a resultant 30% increase on their current turnover, with a £30 million target for the end of the 2013 financial year.
Mellings says: “I am so pleased to have been able to support Pargat Housewares’ growth at this level, its ability to adapt, integrate and use new technologies to create the very highest quality products will undoubtedly ensure the future growth of the company.”