Mancunian packaging manufacturer Duo UK has announced it is moving forward with its expansion plans after receiving a multi-million pound investment.
Duo UK, which specialises in manufacturing plastic mailing bags, also expects annual revenue of £30m by the end of 2018 – its 30th year in business.
The investment would go towards purchasing new machinery for its Manchester factory, including an Italian-made co-extruder, which will make a product that combines two textures to produce a single piece. It will also scale up its stock holding capacity by 30%.
Speaking to the Manchester Evening News, Dale Brimelow, Duo UK’s operations director, said: “We’re in a competitive market and it’s through the quality of our customer service and innovative products that we remain a market leader.
“Raising productivity, developing sustainable products and improving our customer’s experience through the latest technology is therefore central to our growth strategy. Now…we’re poised to win new business both in the UK and overseas.”
Duo UK expects the investment will increase the firm’s turnover by 10% and create five new jobs. They also believe the investment will increase the volume of new packaging products made from recycled materials and enable it to react to fresh orders from new and existing customers all over the world. The new funding comes as Duo UK expect annual turnover to reach £30m by the end of the year – its 30th year in operation.
In recent years, it has taken steps to develop more sustainable packaging products. The firm has a polythene closed loop recycling facility where waste polythene scrap and waste from customer sites is recycled and used to manufacture new products, thereby reducing dependence on virgin materials.
A sizeable growth in its revenue has come from a rise in use of its sustainable packaging products and recycling capabilities. Many of its clients have also started to become more sustainable by segregating waste polythene on-site and returning it to Duo to be recycled and made into new packaging through Duo’s closed loop recycling programme.
On Duo’s website, they say: “We have proudly manufactured 95% recycled content retail carrier bags and 25% recycled content mailing bags without affecting the performance of the product.
“Each year over 2,500 tonnes or 500 pallets of polythene scrap material is recycled in the closed loop recycling system – that’s 2,500 less tonnes of polythene going to landfill sites. Recycling polythene in this way is a real step on the road to sustainability.”
Reporting by Harry Wise