A TOWN centre employer with nearly 100 staff is aiming to double its annual production capacity after a multi-million-pound funding package.

Leading Scottish malt ingredients manufacturer PureMalt has secured a £7 million package from HSBC UK.

The business reached capacity at its Haddington premises during 2019-20 – limiting its ability to take on new customers.

Already, the firm distributes its products to more than 70 countries on six continents.

Now, the bank funding will allow the business to build a new 15,000-square-foot brewhouse.

READ MORE: Royal seal of approval given to Haddington business PureMalt

Bruce Turner, chairman and managing director at the business, on the town’s Whittingehame Drive, said: “We are delighted that demand for our malt-based ingredients continues to grow.

“Reaching capacity was certainly a good problem to have but it’s been challenging to turn away growth opportunities whilst we awaited our new investments.

“We’re delighted to partner with HSBC UK, who have provided support with the funding we need to build our new brewhouse and improve our existing infrastructure. We’re looking forward to now utilising these enhancements to further grow our business.”

The new facility will more than double annual production capacity, enabling the business to supply new customers and markets and take on four additional staff – bringing its total headcount to more than 100.

The investment continues the lengthy history, which dates back several centuries, of processing cereals on the site.

READ MORE: Plans for new brewhouse at major Haddington employer Pure Malt

PureMalt provides a range of refined malt products offering colour, flavour and textures for everything from breads, cakes and desserts to beer, seasoning mixes and marinades.

The funding package from HSBC UK, which includes an invoice finance and asset finance allowance, is also supporting improvements of PureMalt’s existing premises.

In addition, the company has installed a robotic palette movement system into its new distribution warehouse to improve efficiency and stock turnover and is also renovating its floor maltings building.

Paul Valente, relationship director at HSBC UK, said: “We’re delighted to support such an ambitious business with its expansion and look forward to seeing PureMalt go from strength to strength.”