A Swansea-based manufacturer is set to reduce waste by 15 per cent over the next year, thanks to a £290,000 finance package from Lloyds Bank.
Viscose Closures is a leading UK manufacturer of tamper evident packaging that provides visible security to demonstrate that products have not been tampered with. The firm employs 45 people across Swansea and has been operating for 125 years, distributing its products across 13 countries, including the USA, parts of Asia and Europe.
As the worlds’ only producer of Viskring – a self- shrinking tamper evident band that is biodegradable, compostable, and completely plastic-free – the business is committed to running as sustainably as possible and asked Lloyds Bank to support its efforts to reduce its energy consumption and waste, while also meeting increased customer demand. levels.
The manufacturer secured a £160,000 funding package, via Lloyds Bank’s Clean Growth Financing Initiative, to purchase 250 solar panels. The initiative provides discounted lending for measures that reduce a business’ environmental impact.
The firm installed the 100KW solar power system to its Swansea factory and expects to save approximately £45,000 per year by switching to solar energy.
As well as investing in renewable energy sources, the business has also purchased a brand-new Diamond Duplex Slitter and Re-winder machine, using £150,000 asset finance from Lloyds Bank.
The new kit provides an increased running speed of 600 metres per minute – 400 meters per minute faster than the firm’s previous machine. The increased running speed will allow the manufacturer to meet rising customer demand.
Not only will the upgraded machinery increase productivity, it is also more energy efficient and able to reduce wasted materials by up to 15 per cent.
Emma Blackmore, head of commercial at Viscose Closures said:
“We manufacture tamper evident solutions that are used across the world, and we’re committed to doing so as sustainably as possible. Over the years, we’ve worked really hard to develop products that are biodegradable and recyclable.
“Thanks to Lloyds Bank, we’ve been able to reduce our carbon footprint even further by looking not only at our products, but our entire manufacturing process.”
Jonathan Michael, regional manager for Wales at Lloyds Bank said:
“Viscose Closures is a fantastic brand that has built an incredible reputation. It’s been wonderful to see them progress over the years and expand into international markets.
“It’s also great to see another Welsh company committed to reducing their environmental impact. This follows the trend reported in our latest Lloyds Bank Business Barometer results, which found that more than one in four (27%) businesses in Wales plan to invest in sustainability measures. Not only is it a great way to save on operating costs, it’s also clear there’s a real growth opportunity by going green.”