HSBC funds £3.2 million investment for Pensord Press

Print Solutions

Pensord Press has secured a £3.2 million funding package from HSBC that will enable the business to expand into new markets and invest in new equipment.

The company has used part of the funding from HSBC to purchase a Heidelberg SX 102 10 colour printing press, enabling it to realise its growth ambitions over the coming years by further improving the plant’s efficiency.

The new investment will benefit the company by significantly reducing make ready times providing an additional week's capacity per month. The new press is Pensord’s third to have Heidelberg’s Inpress control, which monitors colour and improves quality performance. It is also the first in the company’s history to have 10 colour capability, giving Pensord access to industry markets it was previously unable to operate in.

Darren Coxon, managing director at Pensord Press, explained: ‘This deal is part of an important strategic milestone for our business. The new press not only enables us to improve the high quality service we already offer our customers but it will also create new revenue streams for us which will help us grow the business in areas we previously haven’t been able to operate in.’

Warren Lewis, HSBC’s head of Corporate Banking in Wales, said: ‘Although the printing industry has seen a lot of change in recent times, Pensord has adapted and developed its business to maintain its outstanding reputation in the marketplace. This deal provides the financial support necessary to ensure Pensord remains at the forefront of the industry now and in the future.’

From its headquarters in Blackwood, South Wales, Pensord prints around 400 regular magazine titles. The firm employs 150 people and has a turnover in excess of £12 million.