GLW Feeds secures refinancing package from HSBC UK
The banking facilities provided give increased liquidity and flexibility for the business in support of its growth plans, according to HSBC UK.
Founded in 1873, and based in Charnwood, in the Midlands, GLW Feeds, is one of the largest independent, family-run livestock and specialty feed manufacturers in the UK. It specializes in roll, nut, pellet and meal-form compound feeds for dairy, beef, sheep, pig and poultry production.
The feed manufacturer outlined how, in the past five years, it has completed mill renovations to facilitate growth and meet increasing customer demand, which has seen turnover grow by 30%.
The deal with HSBC UK, said GLW Feeds, will provide the company with additional working capital and allow the business to expand its facilities and invest in new machinery.
It will enable it to invest in new milling equipment and technology to allow it to meet increasing market demand and further its environmental pledges, through increased capacity, and environmentally friendly production.
Carbon footprint reduction
The company flagged how it has been actively working towards reducing its carbon footprint and maximizing its environmental sustainability through more energy efficient production processes.
A new combined heat and power (CHP) plant will allow it to continue to reduce its carbon footprint through energy consumption and increase its overall energy efficiency per ton of feed produced.
On the sourcing side, GLW Feeds reported that it currently buys around 70% of major raw materials locally and has enrolled in global sustainability schemes in relation to other feed components.
