North East family business goes green with £4.2m from HSBC UK

A Gateshead packaging manufacturer is set to boost its turnover by 50 per cent and increase its workforce after receiving a £4.2m funding package from HSBC UK.

iPac, which produces recycled plastic packaging for the food and pharmaceutical industries, will use the funding to buy ‘thermoforming’ machinery and tooling, which molds and cools plastic sheets.

With the new equipment, iPac will be able to launch two new innovative product ranges iZorb and MonoSKIN - as well as increase their overall productive capacity. iZorb eliminates the need for unrecyclable soaker pads from fish and meat trays thanks to the absorbent bubble-like texture of its base; while MonoSKIN has been designed to eliminate hard-to-recycle polyethylene (PE) film on packages.

MonoSKIN’s unique polyester formulation enables vacuum skin packaging to adhere to a tray without the need for environmentally damaging lamination, making the trays 100% recyclable.

Both new products will help to decrease the amount of plastic within UK landfills thanks to their 100 per cent recyclability. With the new machinery, 21 jobs will be created, from warehouse and production operatives to quality control specialists.

Dean Allsopp, finance director of iPac, said: “In the UK, more than 350 million trays per year have unrecyclable soaker pads in them. These go straight to landfill, are incinerated, or contaminate the plastic waste recycling stream. We’re excited to be changing this.

“Many people have the perception that plastic is bad for the environment. But if it’s created and recycled well, it’s an incredibly sustainable and durable product.

“HSBC understood our goals from the outset and have showed real enthusiasm as they help us to continue on our journey of rapid growth. We look forward to continuing to work together as we strive to make the UK thermoformed packaging sector more sustainable.”

Stuart McLaren, relationship director at HSBC UK, said: “The introduction of these fully recyclable packages to the food and pharmaceutical industries will make a considerable difference to the UK and it’s been great working with iPac to help to change this.”

By Mark Adair – Correspondent, Bdaily

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