UK based Universal Flexible Packaging (UFP) will invest around £2.3m in an effort to transform its present Lunsford Road facility into a Peanut and Tree Nut site.
The announcement for the conversion follows another announcement of £11m for a new factory set up in Lewisher Road. Declared in September 2014, the investment was intended to push the company's annual turnover to a targeted £25m in three years from the present £17m.
The Lunsford Road site was intended to be sold as part of the investment deal, reports Packaging News.
However, UFP will retain the site and convert it with funds from managing director of the Cambridge & Counties Bank, Tinku Durrani, and the Durrani family property company, MANN Properties (Leicester).
Spread across an area of 170,000ft2, the production facility is expected to be operational from spring 2015, and will open up job opportunities for 20 people.
Durrani was quoted by Packaging News as saying: "We are particularly pleased that we have been able to retain our Lunsford Road plant as it enables us to focus specialist nut packaging facilities there. It's been an exciting twelve months for us and we can't wait for the new plant to be up and running in 2015!"
