More than 20 jobs are being created at a Tyneside family business that is helping to keep plastics out of UK landfills, on the back of a £4.2m funding deal.
Gateshead-based iPac produces recycled plastic packaging for the food and pharmaceutical industries, and the manufacturer is targeting a 50% rise in turnover after securing the finance package from HSBC UK. The company will use the funding to buy ‘thermoforming’ machinery and tooling, which molds and cools plastic sheets, which means it will be able to launch two new innovative product ranges – iZorb and MonoSKIN - as well as increase its overall productive capacity.
Both new products are 100% recyclable, helping to keep plastic out of landfills sites. The iZorb cuts out the need for unrecyclable soaker pads from fish and meat trays because of the absorbent texture of its base. MonoSKIN, meanwhile, has been designed to eliminate hard to recycle polyethylene film on packages. It has a polyester formulation which allows vacuum skin packaging to stick to a tray without the need for environmentally damaging lamination.
