Peterhead-based fish container provider, Box Pool Solutions, has secured a £1.2 million funding package from Royal Bank of Scotland to construct a new purpose-built factory.
The facility will enable the company to add an extra production line, creating the ability for the business to double the number of plastic fish boxes it currently provides the fishing industry.
Established in 2005 by a number of key representatives from the industry, Box Pool Solutions currently services around 100 fishing vessels and records an annual turnover of £2.2 million.
The company is unique in its ownership with shareholders representing all areas of the sector. The industry previously relied on the supply of containers from third parties with limited availability, often leading to disrupted supply.
The new state-of-the-art factory, which is expected to open in the Spring, will allow the business to continue to expand with the creation of four full-time jobs. It is also designed to the highest food safety and energy efficiency standards.
Royal Bank of Scotland has provided the initial development funding during the build of the new facility, with both Royal Bank of Scotland and Lombard providing ongoing financial support following its completion.
Gayle Graham, Managing Director of Box Pool Solutions, said: “The fishing industry in Scotland is going through an incredibly buoyant period and the recent funding boost has enabled us to expand our premises, giving us the opportunity to be even more active within a thriving sector.
“The company’s growth will allow us to double our production and widen our customer base, positively impacting on the productivity of Scottish and UK-wide fishing companies. We can’t thank Royal Bank of Scotland and Lombard enough for their support.”
Eileen Tocher, Relationship Director at Royal Bank of Scotland, said: “It has been extremely rewarding to work with a business providing key services to the fishing industry. The funding package will also aid the continued growth of Box Pool Solutions. We wish the company every success.”