"A Northamptonshire manufacturer of sustainable warehouse storage and packaging solutions is expanding its global footprint after securing £1.6 million in government-backed finance. Pallite Group, based in Wellingborough, has won new export opportunities across Europe, the US, Asia, the Middle East, Australia and New Zealand, prompting the need for additional working capital to keep pace with growing international demand. The company has now secured a £1.6 million corporate facility from KBC Bank, supported by UK Export Finance's (UKEF) General Export Facility (GEF)."
"The new funding has allowed Pallite to refinance existing loans, scale production and invest in upgraded ERP and IT systems to support operations on four continents. The business has already recruited two permanent manufacturing staff, bringing its Wellingborough workforce to 40, and expects further UK job creation over the next year. Founded on sustainable engineering principles, Pallite produces lightweight, fully recyclable warehouse racking, packaging and logistics products made from honeycomb-structured paperboard."
Pallite Group secured £1.6 million in government-backed finance to fund international expansion. The funding came as a corporate facility from KBC Bank supported by UK Export Finance's General Export Facility (GEF). The capital refinanced loans, scaled production, and upgraded ERP and IT systems to support operations across four continents. Pallite has hired two permanent manufacturing staff, bringing the Wellingborough workforce to 40, with more UK hiring expected. The company manufactures lightweight, honeycomb-structured paperboard racking and packaging from over 85% recycled fibre bonded with PVA glue, replacing wood and plastic while reducing environmental impact. The innovations have won international awards.
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