An award-winning manufacturer of specialised plastic packaging is forecasting improved productivity as it overhauls major pieces of machinery at its South Yorkshire base, after funding provided by member company Finance Yorkshire.
William Beckett Plastics is one of the world’s leading manufacturers of plastic packaging for the cutting tool industry. A £65,000 Business Loan from Finance Yorkshire is enabling the company to embark on a comprehensive refurbishment programme of three machines that mould its range of packaging.
Managing Director William Beckett said: "We will effectively have three new machines which will be 25% more efficient than they currently are. Funding for this type of refurbishment is not readily available – Finance Yorkshire has come to our rescue."
William Beckett Plastics was established 40 years ago and is an 80% export business with markets in 40 countries. Its biggest market is North America which accounts for 50% of its total turnover. The company employs more than 60 people at its manufacturing headquarters on the Tinsley Industrial Park in Sheffield and has five staff based at its distribution centre in Chicago.
William Beckett Plastics has twice achieved the Queen’s Award for Enterprise in International Trade, in 2009 and 2012. "We came through the 2009 recession and have proved that we are very good at export," said William. "Our blow moulding machines are very sophisticated but they are no longer manufactured. The gap funding from Finance Yorkshire makes bringing the machines up to date possible."
William Beckett’s products are designed and manufactured to protect all types of cutting tool – from simple drill bits and blades to highly sophisticated milling cutters. The company is set to seek new export markets in Eastern Europe and South East Asia as it rolls out the improvements to its blow moulding machines over the next 18 months.
William Beckett Plastics also operates Beckett MIM – a start-up company specialising in metal injection moulding for the aerospace, automotive and medical sectors.
Finance Yorkshire Investment Manager Ian Howson said: "William Beckett is a long-established, successful company with an excellent export pedigree. Being more efficient through the refurbishment of its machines will undoubtedly enable it to take advantage of new market opportunities and improve its competitive edge."
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from UK Government and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire visit the website or call 0845 649 0000.