Elevate Export Finance was approached by a Nigerian plastics manufacturer to expand its operations.
Initially focused on producing shrink films for the beverage industry, the borrower had diversified its product lines to include pre-molded plastics. With close to 30% of their revenue coming from flexible packaging films and caps and closures, the company sought to meet growing demand for PET preforms, a significant growth opportunity.
Elevate facilitated the purchase of a Canadian-built system that will increase their preform production capacity, allowing them to comprehensively support large beverage manufacturers with their packaging needs.
The deal, amounting to USD $1.5 million, signifies Elevate’s commitment to supporting business growth and development in the international market.