A plastic injection moulding and tool manufacturing firm has surpassed its own expectations for business growth – having already created 33 new jobs – after receiving a £100,000 grant from the D2N2 Local Enterprise Partnership.
Market leaders in their field, S&S Plastics, of Kirkby-in-Ashfield, Nottinghamshire, supply companies across the UK with precision plastic injection moulding and tool manufacturing services, from initial design and prototyping through to manufacture and distribution.
The company received the grant from D2N2’s Unlocking Investment for Growth (UI4G) programme and used it towards the purchase of new injection moulding machines, a water cooling system and 3D veneering technology – which have been instrumental in driving up sales.
S & S Plastics (Courtesy EMB)
Richard Munyard, Managing Director of S&S Plastics, said: “The timing couldn’t have been better for us, we were emerging out of recession and were ready for expansion.
“The £100,000 grant award allowed us to be more strategic rather than just taking a piecemeal approach. In total we invested £480,000 right across the business in capital equipment, process development and importantly, our people.
“We’ve been able to put ourselves ahead of the game. The investment has allowed us to access the best technology, put more systems in place, develop more skills sets and give our staff more training. The quality of our offer has improved to such a point that we now have high profile customers like Siemens come in to do an audit and leave with a smile.”
The D2N2 UI4G programme has been supported by the Regional Growth Fund and the European Regional Development Fund. UI4G grant awards are given by the D2N2 Local Enterprise Partnership Investment Panel, chaired by Board member Peter Gadsby. The aim of the fund is to create long term sustainable jobs.
“In the last 12 months we’ve seen sales increase by over 38% and have recruited an extra 33 people. That wouldn’t have been possible without the contribution from D2N2; the difference it has made to the company has been astonishing,” added Mr Munyard.
As one of only three companies in the UK able to offer 3D foiling veneering technology S&S Plastics are seeing extraordinary business growth. The introduction of the new machinery in the foiling department alone has taken turnover from zero in 2011 to over £800,000 this year. If things continue as planned, the company aims to recruit a further 16 employees over the next 12 months to meet demand.
David Ralph, D2N2 Chief Executive, said: “This is a perfect example of how grant funding can really have an impact. The grant was originally intended to create an additional 18 jobs at S&S Plastics, so it’s fantastic news to see they are already at 33 new jobs with more to come.”
UI4G is now fully committed and no longer accepting applications. Grants already approved will create over 400 new jobs and safeguard a further 350. The programme has inspired business owners in the D2N2 area to invest over £20million, alongside the grant support, to grow their businesses.
For media enquiries on this news release call Sean Kirby, D2N2 LEP Communications Officer, on 01159 578749 or email firstname.lastname@example.org