Bespoke notepad and presentation folder manufacturer Paper Innovation has invested around £2m in a new premises and additional kit.
The move precedes the launch of a number of new promotional products, which should take place in around six to eight months time. A small proportion of the invesment was spent on a new casemaker and a new riveting machine for ring binders, both of which were supplied by CMC Equipment.
The premises relocation is due to take place in the next few weeks, with Paper Innovation’s previous 1,300sqm premises, known as Innovation House, being sold off to developers for the University of Central Lancashire (UCLAN). The 22-staff outfit had occupied Innovation House for more than 20 years, since its incorporation in 1994.
The new premises will almost double the business's footprint to 1,900sqm and will house production, administration and warehosuing in one unit. Paper Innovation chief executive Steve Johnston said it should be able to hold around £250,000 worth of stock at any given time.
Johnston said: “We wanted bigger premises and to expand into new products and we got a nice offer from the developers where our old place was. We’d outgrown the old place; we'd been there 20 years and are now ready for this shiny new factory we’ve got.”
Paper Innovation’s Xerox Color 1000 digital press and Kolbus DA 260 casemaker will move across, along with the newly purchased kit. Other machines to be moved across include wire-binding kit and a number of Didde reel-to-sheet presses.
The new products Paper Innovation will be launching will be additional ranges of Stick Up notes and Wiro notes, along with items such as clipboards, folders and executive writing sets.
With the addition of the new premises, kit and products, Johnston envisages growth of between 10% and 20% by the end of the next year. The company currently has sales of around £2m, with Johnston conceding that it is a risk to be investing a sum equal to its current sales' figure.