With the support of the local Gloucestershire Enterprise Partnership (GLEP), Stroud Plastics Company Ltd / Stroud Metal have secured a £3.5m interest free loan to assist with the construction of the new factory at Brunel Way, Stonehouse, to accommodate both Cotsworld Plastics and their sister company Stroud Metal Co.
Within 6 weeks, the drainage ditch currently running through the centre of the site will be diverted to create a flat open space to allow construction of a 79,000sqft brand new factory building.
Matthew Large, Managing Director of Stroud Metal and Stroud Plastics Company Ltd said:
“The support of the GLEP and Stroud District Council were key to this project and without their assistance, we could not have made it happen. The investment in this new facility not only safeguards 62 highly skilled engineering jobs and creates an environment to help us nurture young engineering talent, but also reinforces our position as a global player in the manufacture of deep draw metal pressings, high speed stampings and plastic injection mouldings.
The new factory will allow optimisation of our production layout and will include new presses and advanced cleaning equipment as well as Class7 clean rooms for the packaging and manufacture of products for the Advanced Automotive, Aerospace and Medical markets. Truly exciting times for both Stroud Metal and Stroud Plastics Company Ltd!”