Highland Spring Group, a national producer and supplier of natural source bottled water, is continuing to invest in both its operational and environmental strategy after securing a £55.5m funding package from HSBC UK.
The financial backing includes asset-based lending and debt refinance. A portion of the funding will be used to reduce the amount of PET plastic in the manufacture and production of Highland Spring products. This will help the business meet its goal of decreasing its use of PET plastic by 20 per cent and increasing the recycled PET plastic content of Highland Spring bottles to 50 per cent.
The Group is also investing in a new railway siding adjacent to the main bottling plant, which will enable it to transport goods in a more environmentally sustainable way. This will reduce the carbon footprint of the business by significantly reducing its road miles as part of its environmental commitments.
Mark Steven, Chief Operating Officer, Highland Spring Group said:
“HSBC UK’s funding has been instrumental in enabling the Highland Spring Group to continue to develop and implement innovative projects which support both our operational strategy and our environmental ambitions. As a responsible company, we are committed to investing in solutions which will make positive changes across our business and advance our focus on providing healthy hydration in an environmentally sustainable way.”
Ross Keenan, Relationship Director, HSBC UK said:
“We are proud to support businesses in the UK that are developing innovative new ways of better serving the environment and Highland Spring Group are a fantastic example of a business that is committed to developing a truly circular plastic economy in the UK and reducing its carbon footprint.”
Highland Spring Group is the UK’s leading producer of natural source bottled water, employing approximately 470 people at four sites across the country. From the Group’s head office site in Perthshire, Scotland, the business will bottle around 400m litres of natural source water this year.