Thursday, 5 December 2013
FC Cartons wins funds to expand
FC Cartons, a provider of specialist gluing solutions to the carton and packaging industry, has successfully secured significant funding through the Derby Enterprise Growth Fund (DEGF).
The grant will enable the company to invest in capital equipment and create 12 new jobs by April 2015.
DEGF is delivered by Derby City Council and is part of the Government’s Regional Growth Fund. It was launched in December 2012 with the aim of creating 2,200 new jobs by 2020 and supporting the growth of a wide range of businesses in Derby and the surrounding area.
The funding awards are a mix of loans and grants for a variety of projects which include building, extending, updating or moving to new premises through to providing new equipment and machinery.
As part of its business growth plan, FC Cartons recently expanded its manufacturing facility with an additional unit on the Langham Park Industrial Estate, Castle Donington, doubling its capacity.
The DEGF support will enable the company to invest in state of the art machinery as part of a new, dedicated cutting and creasing department that will be housed in the new unit. This will increase its production capability and ensure FC Cartons is able to respond to the fast moving demands of its customers.
Despite a devastating fire that destroyed the original FC Cartons premises in 2006 the company, which celebrated its 10th anniversary this year, has grown steadily and now employs 23 members of staff.
The funding will also support the company’s three-year recruitment plan to build its competitive advantage based on the skills and competencies of the best candidates. An estimated seven direct jobs are expected to be generated by April 2014 as a result, with another five to come later as part of ongoing developments.
Speaking about the grant, David Woodyatt, FC Cartons’ Managing Director said: “We are understandably delighted to have secured the funding from Derby Enterprise Growth Fund. This shows that Derby City Council recognises the importance of companies like FC Cartons and the support that our highly skilled workforce provides to companies throughout the UK.”
"Our customers expect the very best in terms of our service. This requires significant investment in new employees and equipment. The grant will help us expand rapidly to meet the increased demands of our growing customer base.”
Councillor Paul Bayliss, Leader of Derby City Council who chairs the DEGF panel, underlined the importance of the Fund's support. “The DEGF plugs the funding gap left by the banks and is proving to be the catalyst for growth that businesses so desperately need.”
“The Labour-led Council are keen to talk to businesses throughout Derby and the surrounding area to ensure that the £20 million funding available is distributed amongst the businesses who need it to grow and create local jobs for local people."
Applications for DEGF continue to be welcomed by Derby City Council. To find out more visit: www.derby.gov.uk/degf. Alternatively call 01332 641628 or email email@example.com.Back