21 May 2009

Accrol Papers receive NWDA Grant for Business Investment

Up to 40 new jobs will be created in Lancashire thanks to a £175,000 Grant for Business Investment (GBI) awarded to Accrol Papers by the Northwest Regional Development Agency (NWDA).

Established in 1993, Accrol Papers Ltd is one of Europe’s largest independent paper converters with manufacturing capacity in excess of 40,000 tonnes per annum. Accrol manufactures a wide range of household and away-from-home paper products from its purpose built production facility in Blackburn.

With 65 full time employees, the company has seen sales increase from £7 million in 2005, to £27 million in the last financial year.

Since 2004, Accrol has been working on a modernisation programme, investing £3 million in 2008 on new plant and machinery. The company proposes to invest a further £1 million on additional equipment, increasing capacity to meet current sales demand.

With this investment, the company will be able to continue with its expansion and increase turnover. The project will create 30 full time jobs by mid-2010, with an additional 10 full time jobs forecast to be created by 2012. Turnover will increase to £60 million within 5 years.

Mark Hughes, Executive Director of Economic Development at the NWDA said:

“The NWDA recognises that without GBI support, the project at Accrol could be delayed by up to 12 months, sales would not increase as rapidly and fewer jobs would be created. The Grant will enable the directors to carry out the project quickly to avoid risk of losing business from existing customers.”

Tim Bullough, Non Executive Director of Accrol Papers Ltd said:

“Following substantial capital investment in the last couple of years we have enjoyed a rapid expansion in sales.  With the welcome assistance from the NWDA, the further investment now taking place in plant and machinery will ensure that we will continue to have one of the most up to date tissue converting plants in Europe. The investment will also ensure that we have the capacity to satisfy the demands of new customers that have approached us in recent weeks and as a result new jobs will be created.”

Grants for Business Investment (GBI) provide help for investment projects which will increase productivity, skills and employment in the region.

The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these financially challenging times. To keep updated on the range of support being offered by the NWDA go to www.nwda.co.uk/supportingbusiness

For more information on business support visit www.businesslink.gov.uk/northwest

For more information on Finance for Business please visit www.nwdabusinessfinance.co.uk

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Notes to Editors

For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925 400259.
For further information and to view previous press releases visit us at www.nwda.co.uk/press

The NWDA is supporting businesses and prioritising investments to ensure that the Northwest is in a strong position to respond to the current economic climate.  Initiatives include:

• The launch of a £10m High Growth business support programme 
• A new £4m Innovation Voucher Scheme to help 1,000 businesses work with our knowledge base 
• Dedicated Access to Finance support within Business Link Northwest – now available
• £140m Venture Capital Loan Fund (VCLF) - to be launched in 2009
• £40m package of support to stimulate investment in priority skills development - to commence in 2009
• 10 day prompt-payment pledge to our suppliers to help with cash-flow
 
For more information, see www.nwda.co.uk/busines

The Northwest Regional Development Agency (NWDA) leads the economic development and regeneration of England's Northwest and is responsible for:

• Supporting business growth and encouraging investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and communication infrastructure
• Promoting the region’s outstanding quality of life