Decision details

Loan to Heyside Plastics Limited from GM Advance

Decision Maker: Group Chief Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Advanced manufacturing originating in Oldham with environmental benefits and export potential. The company recycles industrial waste that would otherwise end up in land-fill sites. The adoption of advanced manufacturing techniques will help the business to increase product output and the amount of PVC it recycles.

The Combined Authority gave approval on 28 March 2025 to give delegated authority to the Combined Authority Chief Executive and the Combined Authority Treasurer, in consultation with the Portfolio Lead Leader for Investment and Resources, to approve funding requests for projects in the absence of a Combined Authority meeting at the end of April 2025 and approve any urgent variations on amounts and terms for already approved loans.

Decision:

Approve a £500,000 loan to Heyside Plastics Limited, in order toto support the business in its transition to implementing more advanced manufacturing processes.

Publication date: 08/05/2025

Date of decision: 07/05/2025

Effective from: 16/05/2025

Current call-in Count: 0

Accompanying Documents: