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Newcastle print firm invests £1.4m in modernising presses

Newcastle printing company statexcolourprint has invested £1.4m in bolstering its printing press after receiving support from Lloyds Bank Commercial Banking.

The new machinery will reportedly use 25% less energy than the firm’s previous printing presses, boosting productivity and helping to secure jobs, alongside reducing the firm’s environmental impact.

The company, which employs 75 people at its base in Airport Industrial Estate, prints everything from business cards to company reports and banners, with clients including blue chip multinational companies and a number of prestigious universities.

Joint managing director Graham Minett said: “This is an industry that has moved on dramatically in the last ten years, with a greater focus on speed and efficiency. This new machine is faster, uses less energy and creates less wastage.

“It’s a substantial investment that will cut our lead times and enable us to hit the tight deadlines that our clients demand. It’s all part of our strategy to become more productive and profitable.

“In the last few years, it has been very difficult to finance investments like this, but Lloyds Bank were very flexible.”

The press was supplied by Japanese manufacturer Komori and a number of statexcolourprint’s staff have travelled to Komori’s European base in Holland to receive specialist training in how to operate it.

The investment was supported by an asset finance facility supplied by Lloyds Bank HP & Leasing, which enables businesses that have capital tied up in stock, plant or property to raise funds using those assets as security.

Chris Middleton, relationship manager at Lloyds Bank Commercial Banking, said: “This new press puts statexcolourprint at the forefront of its industry and shows the firm’s commitment to improving productivity, which is a government priority.

“We have supported statexcolourprint ever since it was founded and we are proud to be able to continue to support the firm with its plans. Supporting ambitious businesses, like statexcolourprint, as they look to exceed their growth ambitions is just one of the ways we’re helping Britain prosper.”