Hadleigh: Skar Precision Mouldings acquires factory unit in seven-figure deal
PUBLISHED: 14:08 13 June 2014 | UPDATED: 14:09 13 June 2014
Plastics company Skar Precision Mouldings has completed the purchase of a 20,000 sq ft manufacturing unit which it previously rented on the Lady Lane Industrial Estate in Hadleigh.
The deal, involving an undisclosed seven-figure sum, was supported by NatWest and also involved the re-mortgaging of a separate warehouse unit.
Skar, which employs 50 people and has an annual turnover of nearly £6million, manufactures injection moulded plastic parts and components including medical instruments, protective equipment and point-of-sale displays.
Karen Gant, financial director, said: “Owning our own property is an important part of our growth strategy, giving us added security and scope to develop the unit to increase production capacity.”
Sharon Sanders, senior relationship manager for NatWest, added: “It’s a pleasure to have supported the Skar team and to enable them to reach a pivotal moment in the history of the business.”