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Blackburn firm on a roll with £15m funding
8:00pm Monday 23rd September 2013 in News
A BLACKBURN-BASED tissue manufacturer is planning new investment after securing a £15m funding facility.
Accrol Papers Ltd, based in Roman Road, was established in 1993 and has grown to become one of Europe’s largest independent soft tissue converters, with manufacturing capacity in excess of 65,000 tonnes per annum.
It produces both branded and own label toilet rolls, kitchen towels and napkins, as well as facial tissues, for a range of high street stores and wholesale distributors.
The firm was founded by Jawid Hussain but the company is now run by his three sons Majid, Wajid and Mozam.
Having opened a new 120,000 sq ft office and warehouse in 2012, the business has recently invested in new machinery and opened a facial facility which will help the company cope with increased demand for its products. To help support the company’s working capital during its expansion, the firm secured a new finance facility from Lloyds Bank Commercial Finance.
Majid Hussain, managing director at Accrol Papers, said: “This is a period of strong growth for Accrol, as increased demand for our products has necessitated investment in machinery, premises and our workforce.
“We have ambitious plans for future growth for the business as well, but we want to make sure that these are implemented in a controlled and achievable way to give us the best possible chance of success.
“Keeping a tight control on our working capital is a vital part of this process, which means the funding package forms an important part of our growth, and the team has shown a thorough understanding of the opportunities and challenges we are facing as a business.”
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