TDX hopes to wrap up £10m extra sales
A company which makes plastic moulds for the food packaging industry is diversifying into the manufacture of plastic wrapping using recycled bottles in a move it hopes will add £10m annually to sales.
Gateshead-based Thermodynamix Thermoforming Specialist Services (TDX) last month installed a German-made £1.5m thermo-forming packaging production line creating 20 new jobs.
The company, which started life seven years ago designing and manufacturing production tooling for food packaging makers, says the equipment should add £5m to annual turnover in the next two years.
And TDX, which currently has annual sales of £3m and employs 50 staff, plans to install a second production line by the end of the year.
Sales director Mark Prinn said the company had a ready-made market for the extruded plastic sheeting from its existing client base of packaging manufacturers which buy its plastic moulds.
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