A Black Country printing company has invested £400,000 into its plant after securing a funding package from HSBC.
Willenhall-based CS Labels has added a fourth digital printing machine and is installing a fifth finishing line which cuts and varnishes the printed product, an investment which it said would increase its production capacity by 25 per cent.
The move was backed by HSBC's Black Country and Shropshire Commercial Centre which provided a £330,000 funding package from its £100 million SME Fund in a deal led by international commercial manager Nicki Ward.
CS Labels said it had enjoyed sales growth of between 20 and 25 per cent following its decision to focus solely on digital printing in 2007.
It now generates a turnover of £3 million and expects that to grow to £4 million on the back of the investment while staff numbers have risen from 18 to 39 over the same period.
The family-owned business focuses primarily on printing labels for a wide range of packaging items and generates 20 per cent of its sales from other print firms that do not have digital capabilities.
It was launched 45 years ago by Roger Hughes and is now run by his son-in-law, managing director Simon Smith, who joined the business in 2000.
Mr Smith said: "We are at the forefront of digital printing in the UK and that has required a lot of investment.
"We made the decision to move to digital seven years ago and that has paid off....we have expanded our customer base substantially in recent years, plus we get a fifth of our work off other printers that don't have this capability."
HSBC Black Country and Shropshire area commercial director Kevin Skym added: "CS Labels is a great example of an ambitious company that has successfully grown because it has a strong strategic vision and the investment appetite to support its plans.
"We have worked with the company for over two years and have helped support investment in new equipment over that period, so we are pleased to have helped with this latest phase of its growth plans."
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