Luxury packaging and paper products supplier James Cropper has outlined a new strategy intended to expedite its sustainable growth.
The strategy focuses on three changes, including the reorganisation and renaming of the brand, changes in investment within innovation and systems, as well as improving the paper division to scale up productivity and margins.
The company aims to reorganise its James Cropper Paper, Technical Fibre Products and Colourform divisions into four market-facing segments.
The new segments include James Cropper Creative Papers, James Cropper Luxury Packaging, James Cropper Technical Fibres and James Cropper Future Energy.
The company also announced a multi-million pound investment to simplify processes and systems and combine group functions in the next three years.
With aims to accelerate innovation, the company has appointed Patrick Willink as the chief innovation officer who will be leading its Centre for Innovation.
The company expects the decision to affect approximately 10% of employees and has accordingly submitted an advance notification of redundancies.
James Cropper chief executive officer Steve Adams said: “We’re a purpose-driven business built on strong values and announcing potential job losses is not a decision taken lightly.
“We will work collaboratively with our employees, unions, and representatives throughout this process. Change is difficult yet it is essential to ensure the sustainability and growth of James Cropper.
In addition, the company plans to streamline its paper business by scaling down operating paper machines to three, down from previously four.
The move is intended to make its business more resilient while generating higher profit margins consequently.
“Our strategic realignment will drive margin improvements by bringing greater focus on our customers and allow us to take better advantage of our size and remain agile and dynamic in our markets.
“Combined with our wealth of manufacturing knowledge, sustainability alternatives and pioneering abilities we will strengthen our position across multiple sectors as the preferred global partner of choice,” Adams added.