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NWDA adds nutrients for growth with GBI grant
11th February 2010
The Northwest Regional Development Agency (NWDA) has awarded a £126,750 Grant for Business Investment (GBI) to CNP Professional - a Denton based sales, marketing and distribution company for sports nutritional products.
Based in Denton, Greater Manchester, CNP was formed in 1998 and employs 16 people. The company is currently involved in the sales, marketing and distribution of bought-in sports nutritional products from the USA and UK.
With a clear ambition for growth ahead of London 2012, the
company is eager to expand in order to increase the capacity to
manufacture all products, allowing for in-house production and
reducing stock holding levels.
CNP will also be able to establish an additional product area for
their ready-to-drink supplement range and create space to be used
for a future production line.
With the help of an NWDA grant, CNP will create a high quality manufacturing operation in Hyde. Without the Grant, the project would not go ahead; the business would be downsized, with a reduction in the number of new jobs created.
GBI is part of 'Solutions for Business', the Government's package of publicly funded business support designed to help companies start and grow.
Mark Hughes, NWDA Executive Director of Economic Development said:
"CNP is an ambitious company with the potential to double in size over the next 5 years. With a long term goal to establish a world class production site, the opportunity to significantly increase staff numbers cannot be overlooked.
"The NWDA continues to recognise that businesses such as CNP are able to access funding such as GBI in order to create jobs and create an economically stable region for the future."
The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these challenging times.
Paul Vandrill, Finance Director, CNP Professional said:
"CNP is a small, but growing business which has ambitious, yet realistic growth plans. Key to the successful achievement of these is to create our own, food grade standard manufacturing facility. Working with specialist advisors to the food industry, Integrated Food Projects Ltd, we were able to source an ideal site in Hyde, and specify the fit out and equipment needed to achieve the standard required.
"Working closely with Nat West and Lombard we were able to raise some of the finance required - but the NWDA GBI grant proved critical in allowing CNP to progress its ideal plan. CNP is proud of it's Manchester roots and was delighted to remain in the area, with the benefit of local jobs, local suppliers and a big reduction in imports to the UK.
"The new facility will allow us to improve our product offering and service to all our customers in the UK and abroad. The first products are due to roll off the production line in April 2010."
For more information on CNP please go to www.cnpprofessional.co.uk
To keep updated on the range of support being offered by the NWDA visit www.nwda.co.uk/supportingbusiness
For further information on business support in England's Northwest go to www.businesslink.gov.uk/northwest
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Notes to editors:
For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925 400259.
The Northwest Regional Development Agency works to deliver economic success in England's Northwest by building the competitiveness of its businesses, people and places. Utilising our technical expertise and strategic influence, we help the region's 250,000+ businesses to develop and grow, as well as supporting international trade and encouraging inward investment.
For further information and to view previous press releases visit us at www.nwda.co.uk/press
