Teesside manufacturer reveals plans to double growth with "significant" investment scheme

A Teesside manufacturer has announced new plans that will see it double in size over the next three years.

Icon Plastics, based in Stockton-on-Tees, has said that it expects to grow by 100 per cent over the next two to three years as a result of new supply contracts and product development.

The company said that it is starting a “significant” investment programme which includes investment in staff, technology, and infrastructure.

Independent accountancy practice MHA Tait Walker is acting for the shareholders of Icon Plastics.

Lee Humble, associate partner at MHA Tait Walker Corporate Finance said, “We are delighted to be working with Icon Plastics.

“The team benefit from a broad client base across multiple sectors and they have been able to successfully navigate a difficult period for manufacturers – as posed by both Brexit and Covid-19.

“The confidence of the shareholders is demonstrated by the significant investment being made and we look forward to seeing the business continue to grow as they embark upon an incredibly exciting growth plan.”

Gareth Thomas, managing director at Icon Plastics, said: “For the team at Icon Plastics these are exciting times, we have secured new contracts through a proven track record of delivering good quality and good service to all of our customers across many market sectors.

“During the pandemic we continued to invest in our sites, machinery, processes and more importantly in our staff, the next 2-3 years will see us double our sales and to do that we will need to recruit and train additional workers and apprentices from the region.

“Working with MHA Tait Walker has enabled us to plan our future safely and to understand the risks and also to identify opportunities for growth, financial planning has been critical to our future growth.”

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