HSBC finds right package to fund Lil’s expansion
Huntingdon manufacturer Lil Packaging has upgraded its production capabilities thanks to a seven-figure facility from HSBC Equipment Finance UK.
The investment will help the company meet increased customer demand after seeing a surge in sales throughout the pandemic.
The funding from HSBC UK will not only allow the company to meet increased demand but also enable it to adapt to a rapidly changing market, by upgrading its existing production lines to increase volume and automation.
The family-run business began trading in 1983 and became Europe’s largest independent producer of packaging for internet retailers. Lil Packaging is well-known for its plastic-free, 100 per cent recyclable e-commerce packaging.
The company has also invested in a range of patented inventions to reduce the use of single-use plastic in packaging.
The pandemic has seen a huge increase in sales for Lil Packaging and a requirement to increase both volume and lead times. The company has also seen a distinct shift in consumer behaviour, with the consideration of a product’s environmental impact playing a greater role in purchasing decisions.
Fred Lill, director of Lil Packaging, who owns the company with his brother Barry Lill, said: “HSBC UK has always been there for us supporting our efforts to increase production and champion our green initiatives.
“We are delighted to be a signatory of ‘The Climate Pledge’ which demonstrates our commitment to achieving net-zero carbon by 2040.”
Lil Packaging’s entire range is now FSC certified, accredited plastic free and 100 per cent recyclable.
The glue the company uses is also specially formulated to have the highest organic based content to meet plastic free guidelines, while also meeting the quality demanded by the fast-paced nature of the e-commerce packaging sector.