g, Cambridgeshire packaging manufacturer for the fast food and retail industries, has agreed a £9.15m funding package with Santander Corporate & Commercial to boost production and create additional jobs as the business grows.The firm has invested in the UK’s first KBA Rapida 145 large format press, which it says will add 40% more capacity.
St Neot’s turnover has doubled in the last five years to £34m, with over 200 employees across two sites in Cambridgeshire and a sourcing office in Hong Kong.
Greg Koral, finance director at St Neot’s Packaging, said: “We have gone from strength to strength, even during the recession, and the business has remained keen to invest in future growth. The new format press will dramatically improve our operations and allow us to substantially expand the business, providing local employment opportunities.”
Established in 1994, St Neot’s paperboard and packaging products range from sandwich boxes, hot drinks cups to fast food kid’s meal boxes and packs, its products on shelves of many of the high street retailers and across the leisure sector.
