Capital Valley Plastics, an award-winning manufacturer based in Cwmavon, near Pontypool, is buying a new site in Blaenavon and creating 10 new jobs.

The move comes after the firm secured a £150,000 finance package from HSBC.

The new 38,000 sq ft site will be used to house an upgraded recycling plant, allowing the company to recycle larger quantities of plastic to meet the rise in demand for its products.

The acquisition of the recycling plant means 10 jobs have been created, including positions for managerial staff and plant operators.

Capital Valley Plastics, which was founded in 1987, uses the plastic pellets created at the recycling plant to manufacture specialised polythene materials, which are then used to make products such as damp proof course and damp proof membranes.

The company sells these goods to the construction industry in the UK, as well as exporting to customers in the Republic of Ireland and France.

Roger Phillips, managing director for Capital Valley Plastics, said: “In an industry where custom products and specifications are becoming increasingly important, meeting every demand of our clients is incredibly important to us.

"By opening this new plant we are now able to purchase more recyclables from UK businesses in order to produce more goods and meet increasing demand. The support from HSBC has been integral in our expansion."

Stephen Yorke, HSBC area director for South Wales, said: “HSBC has a wealth of knowledge and expertise in the manufacturing industry so we were delighted to assist Capital Valley Plastics in their expansion. The funding put in place by my team is not only helping the business expand but is also supporting the wider business community which can now recycle more products locally.”

The company, which won the Excellence in Innovation Award at the 2017 Monmouthshire Business Awards, purchases 9,000 tonnes of plastic waste per annum within the UK.