Friday, June 5, 2020

Louth packaging specialist secures funding to help protect patients and key NHS workers

A Louth-based packaging company, which has seen demand for its products increase threefold to help the UK’s front-line battle against Coronavirus, has secured financial backing from Finance For Enterprise.

Extrupol Packaging received the significant new order from one of its longstanding customers and was tasked with producing a range of sterile packaging, which will be used to protect sterile surgical equipment, uniforms and cleaning products, helping to reduce exposure to NHS staff working in hospital operating theatres, intensive care units and hospital wards.

The products use special polymers to prevent contamination from entering into the hospital environment and with the large order secured, Extrupol Packaging realised the increased demand for raw materials would place pressure on its cashflow.

Working with Investment Manager Tim Daniels, the packaging specialist secured a new £50,000 loan, funded using Finance For Enterprise capital, enabling the new products to begin rolling off the company’s production line.

Extrupol Packaging has been operating in Louth since 1982. It is run by husband and wife team Simon and former doctor Marina Wittey.

Today, the company turns over in excess of a million pounds per annum and employs 13 members of staff. The company regularly works with companies who supply the NHS and it produces a range of specialist products which are used in chemotherapy treatment, blood transfusions, as well as providing sterile packaging to protect garments during surgery.

Marina Wittey, Financial Director of Extrupol Packaging, said:“The NHS response to Covid-19 has seen many hospitals review their procedures to create a clean, sterile environment to protect both patients and staff. In many cases, the amount of time spent cleaning hospitals and changing uniforms regularly to prevent the spread of infection has been escalated.

“We have worked with a specialist supplier who provides sterile cleaning products, uniforms and surgical equipment to the NHS for more than 20 years. When our products enter the healthcare environment, they must meet stringent safety standards.

“We were approached to fulfil an order which was three times larger than a typical one and we knew it would place significant pressure on our cashflow. Having worked previously with Finance For Enterprise, we called upon them for help.”

Tim Daniels, Senior Investment Manager at Finance for Enterprise said: “Many businesses are facing a great deal of uncertainty at present. At Finance For Enterprise we understand helping businesses to overcome short-term hurdles can result in long-term success. The loan application was supported with a clear business plan and cashflow forecasts, which illustrated the importance of fulfilling the order quickly, to ensure the finished products will reach the front line fight against Coronavirus as soon as possible.

“The success Extrupol Packaging is enjoying brings some much needed good news for the manufacturing sector, as well as enabling the company to play an important role in safeguarding the lives of healthcare workers and patients.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £27.55 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.


Latest posts

Mental health & learning disability staff embrace tech to provide support through pandemic

Local mental health and learning disability staff have been leading the way in embracing the use of technology to keep in touch and continue...

Work to begin on Grimsby’s St James’ Square transformation

Work will begin next week (Monday, 8 June) on the £1.5m transformation of Grimsby’s St James’ Square, with plans that centre on creating a...

Lincoln Festival of Creativity goes digital

Lincoln Festival of Creativity is being held in a virtual space this year, celebrating the emerging creative talents of art and design students at...

Work begins on 1.5km cycle path beside Lincoln Eastern Bypass

Work has started on a new 1,500 metre stretch of cycle path from Bracebridge Heath to Branston. The 1.5km cycle route will connect the A15...

Hare coursers continue illegal activities across Lincolnshire

Hare coursers have continued their illegal activities in fields across Lincolnshire, travelling significant distances to trespass, cause damage and intimidate local people. Newly released figures...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.