The global E-magazine on cooperatives in industry and services
When Budelpack International, a Dutch owned packaging company, closed down in 2005, 19 staff members decided to invest their redundancy payment into setting up a worker cooperative, PrimePac Solutions. With manufacturing jobs on the decline in Wales, the employees were keen to preserve their livelihoods and keep jobs in the local area. The Wales Co-operative Centre provided legal and business planning advice and has helped the newly established enterprise access funding from Co-operative and Community Finance, Finance Wales and the Welsh Assembly Government.
PrimePac Solutions makes bottles, sachets and tubes with clients including leading brands in the health and personal care sector. Since 2005, PrimePac Solutions has doubled the number of jobs and today 22 of the employees are members of the cooperative. Its turnover has increased from £370,000 in 2006 to £3.8 million in 2012. “Establishing our business co-operatively means that all employees feel that they can become masters of their own destiny and develop our company into a real success story for South Wales”, says Steve Meredith, Managing Director of PrimePac Solutions.
International Organisation of Industrial, Artisanal and
Service Producers' Cooperatives
Secretariat: C/O European Cooperative House - avenue Milcamps 105
1030 Brussels, Belgium
Tel: +32 2 543 1033, fax: +32 2 543 1037