Matryx, the fast-growing paper disposables manufacturer, has purchased its Royton premises and invested in new machinery after securing a £1.88m funding package from Yorkshire Bank.
The company has acquired the freehold for 140,000 sq ft of production and warehouse space at its main site at Woodstock Business Park near Oldham. In addition, the installation of state-of-the-art machinery for manufacturing rolled paper products will significantly boost production as well as operational efficiency.
Matryx’s longstanding relationship with Yorkshire Bank has helped the business to invest a total of £5.2 million and increase sales from £2m in 2006 to £24m in the current financial year. The latest investment is part of an ambitious growth strategy that will also expand the current 60-strong workforce by creating 15 new jobs in the near future.
Growing demand for Matryx’s products is a result of its ongoing investment programme, which has reduced production costs, as well as a strong management team whose knowledge and experience has enabled the business to develop the fast-growing private label market.
Nigel Samuel, Matryx owner and CEO, said: “There is no doubt that 2012 has been a tough year and margins have been tight – but we have still managed to continue growing. Our relationship with Yorkshire Bank is vital and their continuing support will play a major role in helping us to deliver our growth plan.”
Matryx had rented its Royton premises since 2006, and recently acquired most of the industrial estate using its own resources, plus financial backing from Yorkshire Bank’s Business and Private Banking Centre in Bolton.
Andrew Frizzell, business development manager at Yorkshire Bank, said: “Matryx is a highly efficient supplier of hygiene products, with sound financial management and a keen awareness of potential market opportunities. The firm’s new machinery for its range of rolled paper products means it is ideally positioned to respond to growing demand. We are very much looking forward to working with the team as they take the business to new levels.”
Established in 1985, Matryx offers a comprehensive range of hygiene and wiping products including toilet rolls, paper hand towels, centrefeed wiping rolls, hygiene rolls, and specialist wipers. It operates 500 live distributor accounts that sell-on its products to large and small industrial, institutional and healthcare customers.