Greenock-based PG Paper Company Ltd, an international paper merchant and one of Scotland’s biggest exporters, is to target growth in South America following a £10m funding package.
Established in 2003, PG Paper was created and driven by CEO Poonam Gupta OBE. The firm acts as a broker, buying paper directly from mills around the world. It exports hundreds of containers per month to buyers located in regions such as the Indian Sub-Continent, the Far East, Turkey and Africa.
Already present in 52 countries, the PG Paper team is fast diversifying its product range into speciality and packaging paper and boards, as well as developing new markets. PG Paper has identified strong growth opportunities in economies such as Mexico, Brazil, Argentina and Chile.
The firm’s turnover has grown to £36m, up 50% year-on-year as at the end of March 2017. The £10m from Santander includes a £3m trade bills facility and £2m foreign exchange line.
Poonam Gupta OBE, CEO of PG Paper Co Ltd, said: “We are constantly developing our presence in new markets, and the comprehensive support from Santander has been key to our expansion plans in South America. We seek out new, on-going opportunities that offer a win-win situation to our partners and clients. Our local knowledge, multilingual abilities and understanding of the many paper grades we work with ensures we can offer paper for alternative and innovative uses across all our markets.”
Narinder Baryah, relationship director, Santander Corporate & Commercial, said: “Santander has been able to deliver a very collaborative approach by really understanding the business and delivering an appropriate product suite that will allow Poonam and her team to achieve their ambition.
“We have supported our overall international sector approach with a range of value-added services such as the Santander Trade Portal and Trade Club and also introduced the business to our Latin America country specialist. Overall, our finance package will allow PG Paper to drive further sales by opening up a key new geography.”