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Business

Manufacturer for litho industry secures £60m

A manufacturer and supplier of aluminium flat-rolled products for lithography printing, has secured £60m funding from HSBC UK.

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The funding from HSBC UK will enable Bridgnorth to move into the drinks and retail sectors

Bridgnorth Aluminium will use the Asset-based Lending (ABL) scheme to diversify into new markets and move away from solely serving lithography needs.

The Midlands is at the heart of industrial manufacturing and as well as its roots in lithography, Bridgnorth wants to expand its offerings into the drinks market by producing cans as well as entering the retail and stockist markets.

Mark Lewis, relationship director at HSBC UK, says: “Bridgnorth has all the hardworking characteristics and heritage you’d expect from a long-established Midlands manufacturer, as well as the ability to look to the future through the lens of innovation.

This is a pivotal move in the company’s history and is set to lay the foundations for a new, exciting chapter in Bridgnorth Aluminium’s story

“This is a pivotal move in the company’s history and is set to lay the foundations for a new, exciting chapter in Bridgnorth Aluminium’s story.”

Through the funding, Bridgnorth will receive working capital funding and a revolving facility for its strategic plans.

Mark Richards, finance manager at Bridgnorth Aluminium, adds: “As a business with big ambitions we need to make strategic future investments. Over the last 90 years, we have held a well-earned reputation for excellence in the lithographic industry which we want to extend into the drinks and retail markets.”

If you have any news, please email carys@linkpublishing.co.uk or join in with the conversation on Twitter and LinkedIn.


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