SoneRaymond Oliver with the new IMM
A North East plastics manufacturer has announced it has been successful in securing £250k of Government funding, further supporting the company’s comprehensive strategy for growth.
Stanley-based Sone Products Ltd, which specialises in the design and manufacture of a range of high-volume plastic containers incorporating innovative application and dispensing solutions for the cosmetics market, has confirmed that it is to benefit from the money under round three of Regional Growth Funding (RGF).
Sone says it sought the funding in order to further develop its manufacturing site in County Durham. Thanks to the grant, the company has implemented some infrastructure remodelling to its manufacturing facility and at the same time acquired new injection moulding machinery, taking delivery of a 150 tonne Arburg 520E all-electric machine.
This latest success supports the company’s ongoing commitment to the local economy and Sone says will lead to much needed job creation. The number of new jobs is likely to be announced at a later date but is thought to be in excess of 10 posts.
Speaking about this current phase of SONE’s development, Chairman and CEO, Raymond 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.
“I am delighted that we have been successful in obtaining this significant grant. 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. Whilst 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.”