A BOLTON pharmaceutical company is set for expansion after a £4.7million funding boost.

M&A Pharmachem, based in Wingates Industrial Estate, Westhoughton, which also manufacture medical equipment for health care professionals around the globe, is one of the UK’s biggest suppliers of paracetamol based products.

The firm, which was established in 1988, currently employs 150 staff.

M&A Pharmachem looked to its advisors, Barlow Andrews Chartered Accountants, who worked alongside North West based finance firm, PMD Business Finance, to secure the funding to replace ageing packaging machines which were restricting production and four new packaging machines were financed.

Gerard Pessagno, managing director of M&A Pharmachem Ltd, said: “Over the last two years we have invested over £5million on our factory plant and equipment, specifically in the manufacturing, packing and ancillary service areas.

“The majority of our projects have been self-financed, but some have been backed privately.

“These new machines are set to increase our current capacity significantly. It is an exciting development for us as a company, because it will enable us to tender for different types of business and will also open up the possibility of further export markets.”

Pictured - left to right – Tom Brown, head of direct finance at PMD Business Finance, Gerard Pessagno, managing director of M&A Pharmachem Ltd, and Peter Dobson, managing director of PMD Business Finance.