Parkside International has strengthened its board, and appointed Yorkshire Bank as its lead bank in the UK.
Paul Below is now group finance director, replacing Chris Jessop, who becomes group commercial director. William Mills is a non executive director. The appointment of Yorkshire Bank marks a return to the financial services provider that funded the company 10 years ago when it floated on the stock market. It has already provided Parkside with a UK funding package of over £20M.
Chief executive Geoffrey Stewart explains: “We intend to build a leading European position in the flexible packaging industry. We believe extensive consolidation in the industry may create opportunities to enhance development through organic growth and efficiency initiatives, and the changes we have put in place will enable us to act swiftly and decisively.”
He adds: “We continue to invest in state of the art machinery. This year, we financed one new Windmöller & Hölscher gearless press and took delivery of a second, which we are developing in partnership with W&H to run at 600m/min. We are ordering another one for delivery in March, 2004, to our production site in Poland. As well as record print speed capability, we are continuing to develop flexo print quality to levels which rival gravure.”
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