Philtone invests in further Speedmaster XL 106 technology

Print Solutions

Philtone Litho is set to upgrade its Speedmaster CX 102-5+L to a Speedmaster XL 106-5+L in July. This will be a match for an existing Speedmaster XL 106-4+L, allowing the company to move forward with a common plate size.

‘This will give us the flexibility to move work between machines without wasting plates,’ said Phil Mercer, managing director.

This will be the final press investment for Phil Mercer before he takes a step back at the end of the year, a semi-retirement although maintaining a 25% shareholding and helping with financial strategy and planning. Neil Mercer and Tony Billing will be the full time directors and key shareholders.

‘The investment is not a final celebration as such but is spurred by the Regional Government Fund and our desire to increase productivity and work to a common plate size,’ said Phil. ‘Our business, which has a turnover of about £3.5 million, is growing 20% per year and we know how productive the Speedmaster XL 106 is and the power of Inpress Control.’

With the latest press the company will benefit from the new Inpress Control 2 which is even faster and further cuts waste. The new press will move straight onto double day shifts after installation and training are completed in the summer.

The print division of Close Brothers Asset Finance was instrumental in facilitating this purchase with a hire purchase agreement. Philtone has a long standing relationship with Close Brothers and has always found the finance company helpful and flexible in constructing financial solutions.