Lombard Asset Finance has struck
a deal providing £4.5m (€5.1m) of funding to European bottling
company Envases.
Envases secured the deal to help
it procure a new £8.5m production line at its West Glamorgan
manufacturing plant.
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RBS subsidiary Lombard will
provide a four-stage payment to the manufacturer, which also has
operations in Spain and France, to facilitate the
purchase.
The new production line is
intended to boost manufacturing efficiency and capacity at the
family-owned business’ Port Talbot base.
Envases chairman Joaquin Marquez
said: “The purchase of a new bespoke production line will improve
Port Talbot’s economy of scale generating additional
competitiveness to our UK operation which will help us to meet
growing market demand.
“Our longstanding relationship
with RBS ensured that they understood our strategy and could
provide us with the right funding solution for our
requirements.”
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By GlobalDataFounded in 1948, Envases has
been based in South-West Wales for the past 18 years and employs 80
people at its Port Talbot site.
The company has an 11-year
relationship with RBS Corporate & Institutional Banking (CIB)
and the bank has financed its previous investments.
RBS CIB relationship director
David Brown said: “We are delighted to be supporting this
investment by Envases”
