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22 November 2013

Punjab Paper rolls out growth vision after £250k loan from The North West Fund for Loans Plus

Press Release 22nd November 2013

A family owned toilet paper manufacturer and wholesaler based in Darwen has secured a £250,000 loan from The North West Fund for Loans Plus managed by FW Capital to back its continued expansion.

Punjab Paper Converters (Punjab) supplies retailers and cash-and-carry outlets with a wide range of tissue products. It manufactures an own-label range as well as products under contract for brands such as Pure Soft and White Heaven.

The company, which moved to a new 30,000 sq ft manufacturing facility in 2012, has enjoyed significant organic growth since Managing Director, Mohammad Arshad set it up 20 years ago.

Following the move Punjab has invested heavily in new plant and technology to increase its production capacity and expand its product range.  It has also implemented numerous efficiency improvements to its operations.

Having identified a number of potential new markets, Punjab is using the loan from The North West Fund for Loans Plus to strengthen its sales and marketing operations.  The loan has also increased the company's purchasing power, enabling it to purchase larger quantities of raw materials at lower cost prices.

"We've built up a loyal customer base over the past two decades because we produce high-quality products at competitive prices.  We offer a wide range of tissue products which allows customers to purchase all their requirements from one supplier.

"Punjab Paper Converters is a family concern and my children are committed to its long-term success.  They've grown up with the business and now help to run it. Moving to new premises was a big step for us. The loan from the North West Fund for Loans Plus and the help we received from FW Capital has provided us with the backing we need to continue expanding," Mr Arshad explained.

FW Capital Investment Executive, Andy Traynor completed the investment. He said:

"Punjab Paper Converters has an excellent reputation and numerous loyal customers built up over many years.  Mr Arshad has a great deal of technical expertise and industry knowledge which has helped him to ensure that the company's product range meets customer requirements.

"Having increased its production capacity, the loan from The North West Fund for Loans Plus has provided Mr Arshad and his family with the backing they need take advantage of some new opportunities they've identified.  They plan to target a number of existing market opportunities and also break into some new, larger markets."

The £45m North West Fund for Loans Plus is managed by FW Capital and can lend between £50,000 and £750,000 to North West businesses. It is part of the wider North West Fund, financed jointly by the European Regional Development Fund and the European Investment Bank.



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