A County Down printing packaging company has made a £1 million investment and created four new jobs.
Priory Press Packaging has invested in a new press which will increase its throughout and accuracy and reduce waste.
Backed by funding from Ulster Bank, the new press will help the Newtownards company grow its business supplying lithographic printed packaging for a range of markets and sectors, including packaging for consumer food and health and beauty products.
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In particular, it said the new Komori press will allow it to produce the high-quality product required by the pharmaceutical sector. The press has automated electronic checking process which both eliminates human error and avoids costly wastage caused by misprints.
“This is the single largest investment we have ever made in the business,” Mark McConville, Managing Director at Priory Press Packaging, said. “We recognise that investing in the right equipment to allow us to diversify into pharmaceuticals comes at a significant capital expenditure.”
Funding for the project was supplied by Ulster Bank’s asset finance division Lombard.
“The finance facility offered by Lombard has meant that we’ve been able to acquire and commission an asset that will drive growth in a strategic market sector for us over the next 15 years, while also improving the quality and efficiency of our current production output.”
Established in 1976 by Ernest McConville, Priory Press Packaging operated as a commercial printing company producing promotional leaflets and brochures for local businesses before adapting to specialise in the production of consumer food packaging 15 years ago.
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“Mark and the team at Priory Press Packaging adapted their business once before having identified a gap in the market for consumer packaging,” Declan Napier, Relationship Director at Lombard, said. “The strict quality and hygiene standards required for consumer food products mean that the business is already very well structured to diversify into the growing pharmaceutical market on the island of Ireland.
We’re very pleased to provide the funding that has enabled Priory Press Packaging to invest in the right technology to achieve its ambitious growth plans.”
Invest NI has worked with Priory Press Packaging for the past 11 years and has supported them financially towards its latest investment.