Lombard Asset Finance has struck a deal
providing £4.5 million of funding to European bottling company
Envases.
Envases secured the deal to help it procure a
new £8.5 million state-of-the-art production line at its West
Glamorgan manufacturing plant.
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RBS subsidiary Lombard will provide a
four-stage payment to the manufacturer, which also has operations
in Spain and France, to facilitate the purchase.
The new production line is intended to boost
manufacturing efficiency and capacity at the family-owned business’
Port Talbot base.
Joaquin Marquez, chairman of Envases, said:
“The purchase of a new bespoke production line will improve Port
Talbot’s economy of scale generating additional competitiveness to
our UK operation which will help us to meet growing market
demand.
“Our longstanding relationship with RBS
ensured that they understood our strategy and could provide us with
the right funding solution for our requirements.”
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By GlobalDataFounded in 1948, Envases has been based in
south-west Wales for the past eighteen years and employs 80 people
at its Port Talbot site.
The company has an 11-year relationship with
RBS Corporate & Institutional Banking (CIB) and the bank has
financed its previous investments.
David Brown, relationship director, RBS CIB,
said: “We are delighted to be supporting this investment by
Envases.
“It is a pleasure to work with a UK
manufacturing business that is continuing to invest in its future,
thus safeguarding and improving the quality of employment for many
local people.
grant.collinson@vrlfinancialnews.com
