PAUL Norman Plastics Ltd, the Stroud-based manufacturer of plastic injection moulded products, is expanding with a six-figure funding package.
The company manufactures and supplies its own branded products and trade mouldings to a wide range of domestic and international customers.
They are used in a variety of industries and sectors such as engineering, electronics, sports, model engineering and education. Founded in 1982, the company is equipped to offer a complete service, from conceptual prototypes to full-scale production.
Now with financial support from Clydesdale Bank in Gloucester, Paul Norman Plastics has expanded into an additional 5,000sq ft premises at Inchbrook Trading Estate, Stroud. This will create new jobs, improve efficiency and performance and enable the development of new products to target new markets.
The business already exports to customers in Europe, Australia and Canada and has ambitious plans to increase its export figures over the next 12 months. Last year it reported an annual turnover increase of 11 per cent.
Paul Norman Plastics employs 23 people and director Emma Crowley believes this number will increase as it looks to meet demand – particularly internationally.
She said: "The demand for our products is increasing, both in the UK and abroad, and we are actively looking to target new markets to meet and increase demand.
"The move to our new premises will help us bring in a range of efficiency measures, as well as increase our staff numbers."
David Rodgers, relationship manager at Clydesdale Bank's Business and Private Banking Centre in Gloucester, said: "Paul Norman Plastics Ltd has a very strong reputation in providing expertly-crafted precision products for a wide range and growing number of customers at home and abroad. in a fast-changing sector and the directors have shown great foresight in keeping ahead of the curve.
"The success of Paul Norman Plastics is a testament to the experience, drive and expertise shown by the management team and represents all that is good about the entrepreneurial spirit of businesses in Gloucestershire.
"As we begin to see signs of economic recovery, Clydesdale Bank remains focused on investing in the growth ambitions of the local business community."