NEWS > unw moulds right advice for Omega Plastics
Published: Thursday, 06 Jan, 2011
A plastics firm, which has quadrupled staff numbers since being rescued from administration four years ago, is poised to create more jobs as part of a GBP300,000 investment. Omega Plastics in Blyth, Northumberland, the leading rapid plastic injection mould making facility in the UK, has received a GBP63,000 Grant for Business Investment, GBI, after being advised by corporate finance specialist unw.
A plastics firm, which has quadrupled staff numbers since being rescued from administration four years ago, is poised to create more jobs as part of a GBP300,000 investment. Omega Plastics in Blyth, Northumberland, the leading rapid plastic injection mould making facility in the UK, has received a GBP63,000 Grant for Business Investment, GBI, after being advised by corporate finance specialist unw.
Omega, whose clients include brand powerhouses Reckitt Benckiser and Unilever, and luxury car manufacturer Aston Martin, will use the grant from regional development agency One North East to help increase capacity at its Riverside Business Park facility, creating seven jobs. It will invest the cash to help expand the injection moulding side of the company, which has grown from seven to 27 staff and relocated from Gateshead to Blyth since being bought up in 2006 by managing director Dave Crone and chairman Chris Thompson, and support additional tooling requirements.
Omega makes low volume, niche products for the defence, medical, personal hygiene & healthcare and automotive markets. It recently supplied 10,000 Lifesaver bottles - which are able to filter contaminated water into water of drinkable quality - to the Ministry of Defence in Afghanistan.
On announcing the grant on 06 January 2011, Mr Crone said: “Our business has continued to grow because although you can get things cheaper in China, customers fear for the safety of their intellectual property in China and that’s a big concern in the product development cycle. Our moulding services are often used to prove a concept and make up the final stage in the design process before mass production so it’s vital that the IP is safeguarded.”
One North East business finance manager Ken Samson said: “I am delighted we have been able to offer Omega Plastics this grant to help the firm deliver to its expanding list of blue chip clients. High growth SMEs, such as Omega, will play a very important part in the future growth of the regional and UK economies.”
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