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Local business enjoys new banking relationship

Published 29th April, 2013 by Neil Nixon

Local business enjoys new banking relationship

Cleaning and Paper Disposables plc has announced a new partnership with Barclays to assist with its strategic growth plans. The move to Barclays includes a new funding deal which will provide working capital, enabling the business to plan with confidence going forward.

Cleaning and Paper Disposables plc, based at Ipark Industrial Estate, Innovation Drive, Hull, was established in 1988 and is an independent supplier of cleaning and hygiene products. The company serves the local area supplying products to over 2500 SMEs, as well as a number of the largest international office products resellers throughout the UK and exporting to eight European countries.

Kirstie Lloyd, financial controller, Cleaning and Paper Disposables plc, said: “We've recently secured new contracts and felt that the time was right to find a new financial partner to support us in the next phase of our growth. Barclays has provided a suite of banking products which will provide the flexibility to market new products and continue the ongoing research and development of our new innovative bio-plastic, Floreon, in conjunction with Sheffield University.”

Floreon has a number of patents pending and is claimed to be a significantly greener option than any other traditional plastics. This remarkable material employs renewable resources and low-energy production and has the potential to transform plastic packaging.

Barry Haslam, relationship director at Barclays, said: “It's great to see Cleaning and Paper Disposables continuing to develop and expand despite the current economic climate. The new funding means that the company is well placed to take advantage of opportunities arising with new products and leaves the business well positioned for further growth within its chosen markets.”