CARDBOARD specialist Glenhaze has invested £300,000 in new machinery using a hire purchase facility from Lloyds Bank Commercial Finance.
The Bathgate-based firm specialises in manufacturing the internal dividers used in many types of packaging, including those used to transport Scotch whisky around the world.
Described as “a unique new type of patent-pending cardboard divider”, it is designed to offer robust protection while also eliminating waste, cutting carbon emissions and combating the spiralling cost of raw materials.
The company worked with a US supplier to develop a machine to manufacture the new divider, two of which have now been installed, boosting Glenhaze’s manufacturing capacity by 25 per cent.
Glenhaze Managing Director Gary McCulloch said: “Innovation is at the heart of our business and we have always aimed to be a pioneer in the sector.
“Glenhaze has developed a product which has never been seen before in this industry, which is robust, sustainable and economical, and this will help us steal a march on the competition.
“This investment in new machinery has also slashed our lead times, which is important because our customers are now demanding deliveries much more quickly than ever before.”
The £300,000 investment was supported by an HP facility from Lloyds Bank Commercial Finance.
Once the machines were delivered and installed at Glenhaze, a hire purchase facility was provided so that the business could pay off the investment over an agreed period, helping its cashflow remain fluid.
McCulloch said his firm’s growth had been boosted by growing demand for Scotch whisky overseas, including in the emerging BRIC economies of Brazil, Russia, India and China.
He added: “The whisky market has grown by eight per cent a year for each of the last two years, which has been fuelled by increased demand for premium whiskies that can cost £150 a bottle.”
The long-standing Lloyds Bank client also has customers in sectors including cosmetics, pharmaceutical, aviation and electronics.
David Dodds, Regional Manager, HP & Leasing Scotland for Lloyds Bank Commercial Finance, said: “Glenhaze is a dynamic and innovative company that is leading the world in its development of new packaging technologies.
“We worked closely with Glenhaze to support its investment in new machinery and I look forward to following its continued success for years to come.
“This is a fantastic Scottish success story and a great example of innovation driving growth, demonstrating how a good working relationship with a banking partner can help companies take advantage of opportunities to grow.”
