Leicester-based casings manufacturer, Trifibre, has announced exponential growth following the expansion of its rotational moulding services and launch of new sister company, Very Displays. The expansion has created 28 new jobs and has been facilitated by strategic support from HSBC.
Established in 1981, Trifibre is a highly respected, innovative casing solutions designer and manufacturer in the UK. Employing over 100 people, it specialises in creating customised plastic casings for transporting fragile or high value goods, from Formula One cars to DJ equipment. New sister company, Very Displays, creates bespoke exhibition displays, serving a wealth of sectors.
Following increased customer demand, Trifibre has expanded its rotational moulding offering – a technical type of moulding which is low weight but highly durable. Previously this service was outsourced but, with trade and invoice finance facilities from HSBC, the company was able to purchase its own rotational moulding machine. This has allowed the company to offer a greater variety of products and, as a result, has secured its biggest contract to date, valued at nearly £3million. The company also has longer term plans to expand into America and add further rotational moulding machinery.
Chris Cox, Managing Director at Trifibre, said: “We have shown consistent growth year-on-year – increasing our turnover by an average of 10 per cent annually. In response to this growth, in 2016 we decided to upscale and develop our offer. We have worked hard to achieve continuous improvement, including the in-house development of our own ERP system ‘Xapsys’ which has since spawned a sister company offering bespoke ERP solutions. Combined with investment into additional rotational moulding machinery and the launch of Very Displays, we expect our growth to continue at pace.
“In a rapidly evolving marketplace, we have worked tirelessly to harmonise our traditional casing offering with the very latest technology. HSBC’s support allows us to stay on the front foot of industry innovations, blending these seamlessly into our portfolio.”
Roger Pratt, HSBC Area Director for Corporate Banking in East Midlands, added: “Trifibre has a successful business strategy and a proactive export approach which has yielded consistent growth. We have been delighted to support another business manufacturing in the UK, providing trade and invoice finance facilities to facilitate its development. It is clear that Trifibre has no intention of slowing momentum and, with longer term plans to break into the American market, we are excited to support the company’s ongoing evolution.”
HSBC’s Relationship Director in the East Midlands, Kate Beretta, led the deal for Trifibre and continues to provide financial guidance as the company progresses its growth strategy.