Chess Plastics has invested in new ‘state of the art’ machinery after receiving a £184,000 asset-finance facility from Santander Corporate & Commercial. The Droitwich firm, which specialises in large products made by plastic injection moulding, has bought a Negri Bossi e-Vector V800-6700 machine to meet the increased demand for its services.
Established in 1968, Chess has become a leading supplier of high-grade plastic products. Around 40% of its sales are to the UK automotive sector, where it has become a Tier Two supplier to companies such as Jaguar Land Rover. Its sales amounted to £8.5 million in the past 12 months — up 30% on the previous year.
Chess director Gareth Olden said: “We have had a strong year of growth, and we are in an excellent position to invest for the future. The purchase of this new moulding machine is central to our long-term growth plans, and the support from Santander has been instrumental.”
John Hyde, relationship director at Santander, said: “Chess Plastics is a great example of a local firm at the heart of the UK economy. It is showing strong signs of growth, and this latest investment in the high-tech machine is a clear indication of its appetite for expansion and its focus on product excellence.”