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New growth fund helps create jobs

By David Elliott

Neil McCabe (left), Senior Investment Manager, WhiteRock Capital Partners and Philip Trimble, Director at ConveyorTek
Neil McCabe (left), Senior Investment Manager, WhiteRock Capital Partners and Philip Trimble, Director at ConveyorTek

A Lisburn company will create six new engineering jobs after securing funding to build a second production site.

ConveyorTek, which makes conveyor systems for the logistics, recycling and material handling industries, will invest the money, which it has borrowed from Invest NI's £50m Growth Loan Fund, in new capital equipment at the 6,000 square foot site, as well as research and development into magnetic recycling.

"This support is a real game-changer for us – it will enable us to take our successful business model to the next level and adapt to the various demands of customers in a wide range of industries," said Philip Trimble, director at ConveyorTek.

ConveyorTek is one of 20 companies to have made use of the fund, which provides so-called "mezzanine" finance to small and medium-sized enterprises across Northern Ireland.

Paul Millar, Chief Investment Officer of WhiteRock Capital Partners LLP, a company set up to manage the fund, was impressed by ConveyorTek's plans.

"At a time when rebalancing the Northern Ireland economy is of utmost importance, dynamic, highly-skilled firms like ConveyorTek represent an excellent opportunity (for) jobs and growth."

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