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New growth fund helps create jobs

By David Elliott

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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