Grangemouth business expands into Livingston with £1m bank loan
A Grangemouth-based business is expanding after taking over a new facility in Livingston.
Impact Solutions, founded in 2002 as a spin out from BP Chemicals, said the acquisition will “transform its operations.”
Eight new staff will also be hired as a result of the move.
The company, which employs 41 people, is an independent materials and accredited testing laboratory* who specialise in plastics, failure analysis and product development.
Its acquired the new facility in Livingston with the help of a £1.19m loan from Bank of Scotland.
The business also has a strong focus on recycling innovation and works to solve the issues recyclers face when dealing with mixed plastics.
The firm’s Scottish Plastic Recycling Centre of Excellence offers technical support to the Scottish recycling industry.
The new 27,500m² Livingston facility gives Impact Solutions room to significantly scale up its operations and help it pursue new ventures including Project RECORD, which will see the firm develop a new industry-led standard to verify recycled content.
Project Treepac, which aims to reduce plastic pollution through biodegradable tree guards, will also operate from the new facility.
Bank of Scotland also supported Impact Solutions with a £250,000 Coronavirus Business Interruption Loan (CBIL) in June 2020.
Kevin Ross, managing director at Impact Solutions, said: “Our base in Grangemouth has served us well since we commenced operations in 2002.
“But as we look to expand and pursue new projects, we knew a new facility was a necessity and the Livingston facility will enable us to double our capacity.
“We have a long-standing relationship with Bank of Scotland and their support has been greatly appreciated.
“While we were not as adversely affected as other businesses during the pandemic, they helped us considerably with a CBIL in June and the acquisition of the new facility would not have been possible without their continued support.
“Now we are eager to put the building to use and push on with our new projects over the coming months.”
Stuart McNaughton, relationship manager at Bank of Scotland, said: “We are happy to have supported the business acquire the new facility, and look forward to seeing how they use the new space to transform their operations.”