Friday, 20 January 2012

There's still money for plastic

Good news has reached us from Keighley in Yorkshire.

Arvensis, who recycle plastic bottles into sheets and packaging for the food industry amongst other were recently caught a little short for working capital when the raw material costs spiked suddenly.

Fortunately, Finance Yorkshire stepped in with a £150,000 business loan for the company, who count Morrisons, ASDA and Marks & Spencer among their clients.

Joint Managing Director Stephen Dowe said: "Due to the rise in plastic prices we were short on working capital to fulfil our substantial order book and operating at a reduced level."
"Our depleted working capital was restricting our growth and we needed a financial kick. This loan has meant we can satisfy our order books and look with confidence to a strong future.

Stephen added: "Our Finance Yorkshire investment manager, Jonathan Craig saw how our business had been affected by the rise in plastic prices and the reasons why it would not impact on trade going forward. He was extremely supportive. The relationship we built up and the knowledge Jonathan took on board meant he could make a proper and considered decision by seeing where our business was.”