SERIAL entrepreneur Terry Cross is to invest £47 million in a new West Belfast packaging business, creating 169 jobs.
Biopax is bringing the former Caterpillar site at Springvale Business Park back to life.
It will deploy the latest technology from across Europe, the US and China in a bid to disrupt the FMCG (Fast-Moving Consumer Goods) and foodservice packaging market.
The 169 jobs are set to be created in the first four years, with the company planning further investment in a second phase.
It marks a return to the packaging game by Terry Cross, seven years after he sold Delta Print and Packaging to the Finnish packaging giant Huhtamaki for around £80m.
Launched above a corner shop in North Belfast in 1979, the company grew into one of West Belfast’s biggest employers, creating bespoke printed folding carton packaging for some of the world's largest food service brands including McDonald's, Tesco, KFC and Kellogg's.
In the years since its sale, Dr Cross has remained active in business, investing £15m to launch the Hinch Distillery in north Down.
Now the 72-year-old Belfast entrepreneur is back in the packaging business.
READ MORE: Terry Cross proves again that he's the complete package . . .
“Biopax was born out of a passion to develop a truly green solution for today’s packaging needs,” he said.
“The company has invested significantly in research and development and the best green technology, which along with our in-house expertise, will enable collaborative solutions to be delivered to our customers.
Dr Terry Cross us back in the packaging game as he launches Biopax in west Belfast, a £47m investment creating 169 jobs pic.twitter.com/RNawypJOHf
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“We are confident that the company understands the current market and the high growth potential.”
The interim boss of Invest NI, Mel Chittock said: “This major investment will bring the former Caterpillar site back to life with a state-of-the-art factory and machinery.”
He said the 169 jobs will be across a range of functions including design, printing, production seals and finance. Once in place, they will contribute in the region of £5.7m annually in salaries.
“Importantly, there will be opportunities for local people through apprenticeships, training and re-skilling. This is excellent news for West Belfast and for Northern Ireland,” added the interim chief executive.
“Biopax’s proposition in developing polyethylene-free carton board, label and wrap solutions will assist with the drive to a net-zero carbon future,” he continued.
“Coupling this with the benefits of dual market access which NI manufacturers now uniquely benefit from, will offer companies like Biopax significant opportunities to increase exports to the EU.
“I look forward to seeing the drive its ambitious strategy to grow and increase its exports to the EU and beyond.”
Liam O’Connor, sales and marketing director at Biopax, said: “There has been a considerable investment in the factory and as technology and manpower.
“We have a team of experts leading the business who have spent a large part of their careers working in fibre-based packaging and labels, as well as a designer development team who have a track record in delivering high quality sustainable packaging designs and solutions for some of the world's largest brands.
“Pairing that talent and technology with their steadfast commitment to the environment, we see bio packs becoming a leading provider in the packaging world across a number of markets.”
