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Food packaging firm Wilkins Group has invested £3.6m in peak performance equipment as part of ambitions to push turnover to £70m.
The Nottinghamshire-headquartered group made the investment in machinery earlier this month when the team visited Drupa, the world’s biggest printing equipment exhibition, in Dusseldorf, Germany.
The move is set to propel the £50m-turnover company towards its growth target of £70m within the next few years.
“This huge investment demonstrates our solid commitment to growth,” said joint managing director Justin Wilkins.
“As a family owned and run business, we have a responsibility to our staff and customers in the UK and overseas to ensure we can achieve and sustain growth within the industry.
“The purchases will further increase the capacity and efficiency of our manufacturing facility, securing future growth.”
The die-cutting machinery purchased has been specifically optimised for higher machine speeds, handling 9,000 sheets per hour, and has the ability to tackle unusual or challenging carton designs, which Wilkins Group has a reputation for producing.
The new printing press, which can handle up to 18,000 impressions per hour, includes a double coater, used to apply two varnishes in line allowing its customers to design “really eye-catching” products.
Joint managing director Aron Wilkins added: “This next generation equipment bolsters our already state-of-the-art fleet of machines. These new additions alone will help to increase productivity by 17% and really enhance the finish of our products.”
Wilkins Group makes food packaging for many of the UK’s leading supermarkets at its three-acre site at Colwick Industrial Estate.
Morning update
It’s another quiet morning on the markets as the City heads into the bank holiday weekend.
The FTSE 100 is down 0.3% to 8,332p so far.
Early risers include Nichols, up 1.8% to 1,180.3p, and C&C Group, up 1.1% to 155.7p.
Fallers in the early going include Glanbia, down 8% to €14.82, AG Barr, down 3% to 624p, and Science in Sport, down 1.2% to 25.2p.
Yesterday in the City
The FTSE 100 increased 0.6% to 8,356.94pts.
During the dog days of summer, there was little going on in the market to drive share price movements.
Risers included McBride, up 2.2% to 129.2p, Fever-Tree Drinks, up 2% to 912.5p, and SSP Group, up 1.8% to 171.5p.
Glanbia and Virgin Wines were among the fallers, down 7.1% to €15.74 and 1.2% to 43.9p respectively.
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