A DROITWICH company that specialises in plastic injection moulding has invested in new machinery after securing a six-figure facility from its bank.

Chess Plastics bought an additional injection moulding machine to cater for higher demand for its services when annual sales increased to £8.5m. Santander supported the move with a £184,000 asset finance facility.

"We have had a strong year of growth and are in an excellent position to invest for the future," said Gareth Olden, director of Chess Plastics. "The purchase of this new moulding machine is central to our long-term growth plans, and the funding package and support from Santander has been instrumental."

Established in 1968, Chess Plastics, which is on Berry Hill Industrial Estate, has grown over the past five decades into a leading supplier of hi-grade plastic products and become a specialist in large-size and high-volume manufacturing. Around 40 per cent of its sales are to the UK automotive sector, where the firm has become second-tier suppliers to marques such as Jaguar Land Rover. Other key sectors for the firm include garden furniture manufacturers, the housewares sector, and the brewing industry.

John Hyde, relationship director of Santander Corporate & Commercial, added: “Chess Plastics is a great example of a local firm at the heart of the UK economy. The firm is showing strong signs of growth and this latest investment in the hi-tech machine is a clear indication of the firm’s appetite for expansion and focus on product excellence.”