Southampton-based plastic manufacturer, Polystar Plastics is set to create 40 new jobs thanks to a £5m investment.
Polystar Plastics has revealed it plans to expand production of polythene by 2,000 tonnes a month and create an additional 30-40 new jobs thanks to new expansion plans.
Overall capacity is expected to increase to 40,000 tonnes a year and make the firm one of the largest independent polythene producers in the UK.
Polystar has created the new jobs and extra capacity thanks to two new extrusions that will produce an extra 2,000 sqm of factory and office space.
The new space will also host a number of new machines to help with the production of their plastic; and work is scheduled to be completed in January 2017.
The firm has enjoyed strong growth over the past decade and has seen turnover increase from £3.5m to £22m, with profitably also rising over this period as well. Polystar currently employs 120 members of staff and the expansion has put the company on track to double business over the next five years.
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The company was formed in 1993 by current directors, Sue and Jai Talwar, and is now spearheaded by siblings Suchin and Rebecca Talwar.
Suchin Talwar, commercial director of the family-run firm commented: “Although we’re well known in industrial and agricultural sectors, this new phase in our expansion allows us to move into other sectors like the food, beverage and pharmaceutical markets.
“Our absolute belief in what we are doing and the resulting growth of the company is something for the UK manufacturing industry to be proud of – especially considering the uncertainty that’s been caused by the Brexit vote.”
Suchin added, “Our success to date has been largely down to our own drive and commitment but more importantly our loyal workforce, customers and suppliers.
“As a result we are now in the fortunate position to be able to embark on such an expansion because of the solid foundation that is already in place. We are all very excited about what this new chapter promises to deliver.”