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Plastics firm moulds bright future
A PLASTICS firm says it will create North-East jobs as it looks to increase European exports.
M and S Plastics, in Spennymoor, County Durham, is growing after receiving financial support.
The injection moulding company has been backed by Santander.
Bosses say the move will allow them to negotiate better trade terms, lift profit margins and deliver more jobs.
The firm, which has annual turnover of £4.5m and employs 40 staff, makes plastic trays used by retailers, with its specialist machines making shovels, sledges and ice scrapers for the winter period.
It also works with craft supplies company Crafter’s Companion, based in Coundon, near Bishop Auckland, to make its flagship paper tool, The Ultimate.
The product is popular with enthusiasts in the UK, the US and Canada.
Steve Peverall, managing director, who founded M and S Plastics in 2008, said the backing from Santander would allow it to take on seven workers in September and three in the new year.
He said: “Having built an enviable reputation as being the first choice toolmaker for customers, ranging from international organisations to a host of smaller firms, we cover virtually every industrial sector.
“Our track record shows we are able to cater for the specific requirements of each and everyone.
“I’m delighted with the ongoing success of the business, particularly the development of our international sales and expansion.
“We have been extremely impressed with the service from Santander throughout this process and feel that the team really understand our business model.
“We are confident their support will see us export our products into a wider market and increase our profitability.”
The Northern Echo contacted the firm to find out how workers it aims to take on, but did not receive a reply.
Richard Shuter and Lee Humble, both of Santander Corporate and Commercial, praised the company’s drive and continued expansion.
They added: “This is an excellent example of a local business actively seeking overseas opportunities for exporting its goods.
“Steve and the team have impressed us with their ambition and dedication and we look forward to working with them in the future.”