Jobs in the bag thanks to suitcase firm
NEARLY 50 jobs have been saved at a Plymouth factory after it was bought by the firm behind the famous Trunki children's ride-on suitcase.
Inject Plastics Ltd, in Burrington Way, has been bought out of administration, for an undisclosed sum, by Bristol-based Magmatic Ltd.
The deal saves the factory, which moved to Plymouth from Totnes last summer, after it was threatened by "short term cash flow problems".
It means 49 jobs have been saved at the plant, which actually manufactures the Trunki suitcase for Magmatic, alongside making other plastic products.
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The take-over deal took under a week to complete, taking place just after Inject Plastics financiers withdrew support, placing the business into administration. The manufacturer will be renamed Magma Moulding Ltd.
Saving the factory also means another firm, Early Rider, designer and distributor of balance bikes and mini-riders, can continue manufacturing at the facility.
Rob Law, creator of Trunki and Magmatic's managing director, said: "The problems experienced by Inject Plastics Ltd show the financial environment in the UK remains challenging and that even with full order books, good businesses can still slip into difficulties."
Mr Law's business idea was famously rejected on TV's Dragon's Den six years ago but his firm has grown since, with a turnover of £6million.
Inject Plastics moved to Plymouth after outgrowing its Totnes plant.