Member Article

Newcastle packaging company creates new jobs following £2.5m investment

An overall £2.5m investment is helping a Newcastle packaging company, Reed Thermoformed Packaging, to purchase both the machinery and manpower it needs to facilitate its future growth.

Founded by Harry Reed and son-in-law Jonny Catto in March 2017, Reed Thermoformed is a family-owned manufacturer of packaging for products including meat and poultry, fresh produce and dairy.

Including a £500,000 financing deal from Lombard, the business is set to create 13 new jobs as well as purchasing a new thermoforming machine.

Harry Reed has a strong background in the sector with more than 40 years in the thermoformed packaging industry and this experience is showcased by the company’s success, having already won contracts with major food groups.

Harry Reed said: “This investment marks a major milestone in the development of the company and we’re proud to have created 13 new jobs within the local area.

“This financing was vital to securing the machinery required to support the business after purchasing the commercial site with our own finances.

“Getting the business up and running so quickly has allowed us to focus on innovation and designing the new products that we want to introduce to the industry.”

Cole O’Malley, Business Development Director at Lombard North East & Cumbria said: “Our relationship with Reed Thermoformed Packaging began with a customer referral and has developed positively from there.

“The client has benefitted from financing and the team’s contacts through the recommendation of a local executive from the North East Local Enterprise Partnership.

“Our familiarity with the customer allowed us to put together a package of funding and banking facilities that was right for them. We look forward to working with Reed Thermoformed Packaging in the future and supporting their further growth.”