Penderyn Distillery, a Welsh whiskey producer, is to triple the production of its single malt whiskey after securing loan worth £900,000 from HSBC South West Wales bank.
The distillery, which will add three new stills, plans to increase the production from its current 150,000 bottles of whiskey per year to around 400,000-500,000 bottles a year.
Established in 1998, the Penderyn Distillery has an annual turnover of £4m. It sells around 80% of its products to Scottish distilleries and around 20% to overseas, which it aims to increase to 40% by expanding sales in Europe, North America and Asia, reported Wales Online.
Penderyn Distillery managing director Stephen Davies was quoted by the website as saying that the growth of the business has been constrained by a lack of production capacity, rather than a lack of demand, so this investment will help them to propel the company forward.
"We have established a strong brand and business and we are now at the stage where we want to capitalise on that and look for expansion. Whisky is a competitive marketplace but we are fully confident we can increase sales both and home and abroad," Davies added.
"Although we are the only Welsh whisky producer with a product on sale, we differentiate ourselves from Scottish and Irish whisky producers on taste and production process.
"Our whisky is produced using Brecon Beacon spring water, matured in old Bourbon casks from Buffalo Trace in Kentucky and finished in Madeira barrels, which gives it a very distinctive taste."
