Listed toilet roll maker Accrol Group Holdings PLC (LON:ACRL) has invested €4.5m (£4m) into a new tissue-converting machine for its recently opened facility in Leyland.
The machine will be used in the conversion of a variety of tissue grades and has a capacity of 15,000 tonnes or £20m sales per year. Installation and commissioning will be towards the end of the 2018 financial year.
Accrol opened its 168,000 sq ft manufacturing facility in Leyland in April 2017. It has two converting lines installed and operational, with space for a further four converting lines.
Steve Crossley, Accrol’s Chief Executive, said: The new converting line will add further production capacity at our Leyland facility and will convert a wide range of product types, particularly at the premium end of the market.
This investment is in line with our growth plans for the business and will ensure that we have the capacity to service, and benefit from, increasing demand from both major multiples and the discount sector.
Mid-market private equity firm NorthEdge backed a management buyout of Accrol Papers in a £66m deal in July 2014. It currently holds a 15 per cent stake in the business, which floated on AIM in June 2016.