COAST TO CAPITAL ANNOUNCES LOAN INVESTMENT DEAL WITH GLASSECO
14 April 2014
Coast to Capital is pleased to announce its latest loan investment from the Growing Places Fund to GlassEco International Ltd.
GlassEco is an award winning business based in Crawley, manufacturing work surfaces, counter tops and castings from waste glass products which would otherwise be used for landfill. The company uses 90% recycled materials to create a sustainable product.
The Coast to Capital loan finance will help GlassEco expand its Crawley base. The investment will be spent on new machinery to accelerate production and enable GlassEco to increase sales capacity and create up to 30 new jobs.
Commenting on the deal, Peter Grisman, Company Secretary at GlassEco says: “From the initial enquiry to completion of the formalities, Coast to Capital has demonstrated an understanding of our business and the needs of an innovative new company in a rapid growth phase, providing us with the vital additional funding to support the next phase of our investment programme.”
The Coast to Capital Growing Places Loan Fund is available for projects that are ready to implement in the short term and that will create or unlock job creation. Spiros Tarazis, Head of Infrastructure and Investment, at Coast to Capital commented:
“What attracted us to GlassEco was the firm’s ambitious growth plans for the future.” This project is a great example of how the Growing Places Fund can be used to help companies expand and create jobs for local people.”
To find out more about the Growing Places Fund and to see if your business is eligible for funding go to www.coast2capital.org.uk.