Plastics manufacturer SONE Products Ltd is primed for expansion and job creation after securing £250,000 through The Journal’s Let’s Grow Programme.
The 125-strong firm, based in Stanley, County Durham, supplies innovative packaging solutions for use in the cosmetics, cosmeceuticals, personal care, healthcare and diagnostics sectors, counting Boots, Procter & Gamble and Hammerite among its clients.
Since it set up home in the North East in 1981, the company has grown significantly, extending its original 1,000sqm facility to its present size of 3,000sqm.
Now, the company aims to expand its products and take on new employees after benefiting from ï¿½250,000 as part of the Let’s Grow fund, The Journal and Evening Gazette-led collaboration with BE Group and UNW LLP which provides grant support for capital investment and research and development projects creating or safeguarding jobs in the North East.
On track with a robust five-year plan, SONE, which posted turnover of ï¿½7.22m and pre-tax profits of ï¿½563,000 for the year ended July 2012, sought the funding in order to further develop its manufacturing site in County Durham.
This latest injection of cash marks the first stage of a much larger programme of investment, paving the way for SONE to increase the range of products it produces and remain on target to increase its market share within the application and dispensing solutions arena.
SONE manufactures mascaras, eyeliners and lip gloss packs for the cosmetics industry, each of which is produced using both plastic injection and blow moulding processes before being decorated and branded and assembled ready for distribution.
Thanks to the grant, SONE has implemented some infrastructure remodelling at its Stanley base and taken delivery of a 150-tonne Arburg 520E all-electric machine.
SONE’s chairman and chief executive Raymond Oliver said he expects to take on at least 10 new employees as a result of the expansion plans.
Oliver said: “At a time when companies face a number of difficulties, the risk factors associated with growth are substantial, but in order to grow your business, you must be prepared to consider investment as an option.
“Access to RGF money is therefore more relevant than ever.
“One of our key aims is to add real value to our customers’ businesses, while at the same time achieving long-term security for our committed workforce and other stakeholders.
“While this money has initially supported some capital and infrastructure investment, it lays the foundations for much larger sums of investment and will ensure that we remain on track with our vision and key aims.”
In order to grow your business, you must be prepared to consider investment as an option