What is the story about?
What's Happening?
Task Consumer Products, a family-owned manufacturer of household paper products, has secured a £22 million funding package from HSBC UK to purchase a new 181,409 sq. ft. site. This acquisition is part of the company's strategy to expand its manufacturing capabilities. The new facility will introduce a facial tissue production line alongside existing products such as toilet rolls and kitchen towels. The expansion is expected to create ten new jobs in the local area and increase production capacity by 12,000 tonnes. The company aims to enhance its supply chain capabilities to meet rising demand for high-quality, UK-manufactured tissue products.
Why It's Important?
The expansion of Task Consumer Products is significant for the local economy, as it creates new jobs and boosts manufacturing capacity. By increasing production, the company can better meet consumer demand and strengthen its position in the market. The investment from HSBC UK not only supports Task's growth but also highlights the bank's commitment to backing entrepreneurial British manufacturers. This development is likely to have a positive impact on the regional economy and could set a precedent for other businesses looking to expand their operations.
What's Next?
Task Consumer Products plans to install and commission new machinery and production equipment by the end of October 2025. The company is expected to continue expanding its product range and enhancing its supply chain capabilities. With the support from HSBC UK, Task is poised to undertake additional projects in the coming years, further solidifying its presence in the market and contributing to regional economic growth.
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