Glass bottle decorating company Bottleworks is set for rapid expansion after securing a £750,000 invoice finance facility from Aldermore Invoice Finance, which is part of new British bank, Aldermore.

The UK-based company, founded in 2002 by entrepreneur Colin Waller, decorates glass bottles for a number of leading UK glass manufacturers including Quinn Glass, Stöltzle Flacconage, Beatson Clark and Allied Glass.

Bottleworks, which sees up to 300 million glass bottles pass through its Yorkshire facility each year and has a rapidly developing cosmetic and perfume decoration unit, plans to double its turnover to £6 million in 2010.

Following financial difficulties during the recession, the introduction of the funding line has helped to save more than 120 jobs at the company and has provided Bottleworks with greater financial flexibility. Alongside its intention to increase capacity, the company also plans to diversify by setting up a filling facility within the next 12 months.

Founder and Managing Director, Colin Waller, said: “The funding line has been a lifeline for the business and will enable us to take advantage of opportunities in the market as demand from the drinks and perfume industry recovers.”