Simtom Food Products, an Indian food manufacturer based in England, has unveiled plans to expand and upgrade its production line, while creating new jobs.
The company received facilities including asset finance and working capital facilities from Yorkshire Bank's Business and Private Banking Centre in Leicester, which will support its day to day trading and the new production facility.
Simtom Food Products director Bhavin Chandarana said, "This significant financial commitment will help us to extend our reach in a sector we have been established in for more than 35 years."
"By investing in a new production line we have replaced our ageing machinery with new equipment, which will allow us to realise greater returns and achieve sustained economic growth," Chandarana added.
"This would not have been possible without the support of the Yorkshire Bank which has worked closely with our team to help us realise our ambitions."
Simtom seeks to enter a sustained period of growth, increasing its customer base, over the next five years. It is likely to create 50 new jobs by 2015.
Established in 1977, Simtom Food Products is engaged in the manufacture of a wide range of Indian sauces, seasonings, marinades, pickles, and chutneys. The company imports materials from India to prepare products for the retail and wholesale markets.
