8:00pm Thursday 7th January 2010
By Jon Livesey
MORE than 20 jobs are to be created after a cash injection of £90,000 was shared between four firms.
The money, which is being invested by Pendle Council through the No Limits Finance for Growth Project, will create 21 jobs.
In addition, 22 local positions have also been safeguarded by the investment.
Bosses from the companies benefitting from the investment expressed their gratitude, and said it would help them move forward.
The money is designed to help existing businesses during the global economic recession.
Fourteen new jobs will be created at Merc Engineering UK Ltd, which received a £40,000 grant.
And the money means that more than eight existing jobs have now been safeguarded at the Barrowford-based company.
Bosses now intend to expand the firm’s premises to house a new CNC lathe and CNC machining centre.
Koribox Ltd, in Nelson, has received £23,000, which it will use to buy a new printing machine and dye cutting machine.
This machinery will generate extra work, which will create six new jobs, as well as safeguarding six.
It will also help the company to expand into an adjoining building.
Graham Campbell, managing director of Koribox Ltd, said: “We’re really grateful to Pendle Council for supporting us.
"It means we can enter into a new market, while remaining competitive.
"We currently specialise in manufacturing corrugated packaging and this funding means we can move into solid board packaging for poultry.”
Diamond Contract Cleaners Ltd, in Brierfield, received £6,391, which will pay for a bespoke cleaning machine.
The purchase will lead to the creation of 1.5 jobs and safeguard two positions.
Colne-based Regal Precision Engineering Ltd is investing £42,000 and has received £17,000 from the scheme.
The company will buy a bespoke IT system to improve their existing software, safeguarding six jobs.
Ian Sorbie, financial director, said: “This new system will be exclusively written for us and will be key to our future development.
"It will focus on quality and reporting, as well as producing purchase orders and managing our stock control.”
Since April, £162,776 has been invested in Pendle firms, which will create 40.5 jobs and safeguard 29.
Coun Allan Buck, who has lead responsibility for economic development, said: “This project is fantastic news for Pendle.”
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