Member Article

Funding helps printing firm expansion

A printing company in the region has made a £1.2 million technology investment, set to boost sales and create further jobs.

Potts Print (UK) in Cramlington have purchased a third B1 colour lithographic press after they received backing from Yorkshire Bank’s Financial Solutions Centre through its Investing for Growth Initiative.

15 new business development and sales positions have been created, and it is hoped that turnover will now increase by £2.4 million to a target of £15 million in 2011.

Potts Print (UK) managing director, Shaun Johnson, says: “We have continued to invest throughout the recession when others have stood still. Now, as the economy has started to recover, we are seeing the benefits of this investment.

“Much of the work we’ve been taking on needs B1 press time and we need extra capacity, so this investment is the next logical step and ensures we can maintain flexibility and provide the fast turnaround times our clients expect.

Potts Print (UK) opted for straightforward funding, they could have opted to take loan repayment holidays, interest-only repayments and extended loan and credit terms to support growth.

Yorkshire Bank Newcastle FSC business development partner, Steve Walker, who handled the deal with asset finance partner, Ian Thompson, says: “The North East will benefit from astute, dynamic enterprises such as Potts Print (UK) Ltd which are prepared to invest in technology and create jobs to drive the economy forward.

“Yorkshire Bank is very much open for business with money to lend and we are pleased to be supporting this latest stage in their progress.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .