Packaging firm wraps deal on premises with NatWest loan

Packaging firm wraps deal on premises with NatWest loan

A packaging firm has bought a second business site to aid its expansion with funding provided by NatWest.

Iain Pemberton from NatWest and Colin Noble from PEC Packaging

A packaging firm has bought a second business site to aid its expansion with funding provided by NatWest.

PEC Packaging, a firm which provides a comprehensive packaging service from manufacturing cardboard crates and timber products to packing customers’ goods for export, has opened a site in Newton Aycliffe, County Durham in the North East of England.

The firm was established in Liverpool in 1981 by Colin Noble, who was then an 18 year old student. Since then the turnover has grown to more than £8m and the company employs more than 60 staff at its two sites. Clients include Pilkington Glass and Jaguar Land Rover.

PEC needed a permanent base in the north east to continue its expansion, and working with Iain Pemberton, Senior Relationship Manager for Commercial Banking at NatWest in Chester, secured a loan for £269,500 to buy the freehold of a new site.

Help through difficult times

Noble said: “We’ve been working with Iain at NatWest since 2006 and Iain has always been great; very supportive and proactive. He’s helped us through difficult times and has assisted us with freeing up cashflow.

“Now that we’ve secured the future of our new site in Newton Aycliffe and 30 jobs overall, our plan is now to consolidate and bring new business on board.”

PEC aims to increase its turnover to £9m by next year , and two more staff have already been taken on with the employment of a further five expected by the end of 2013.

The company has also developed a further income stream worth £1m a year in a subsidiary company by reusing wood waste produced in its manufacturing processes that was previously thrown away.

Noble said: “We’re proud to be extremely green and are probably one of themost environmentally-friendly packaging firms in the industry. We’ve invested heavily in equipment to help us recycle and we even use our sawdust and off-cuts to make racehorse bedding and fuel briquettes.”

Iain Pemberton said: “From a young age Colin has built up a successful business and his recent expansion has helped secure the future of many jobs. Working with him on the latest chapter has been very exciting and we wish him every success with cracking the north east market.”

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