UK glasswool insulation manufacturer in £6.5m expansion8 December 2011
UK glasswool insulation manufacturer Superglass is investing £6.5m to boost production capacity and product quality.
The project at Superglass’ Stirling factory will start next March and complete in March 2013.
Superglass said as well as improving the operating efficency and output of the plant, product quality and compression will be improved.
The funding was obtained following the completion of an £8m equity fundraising and a capital restructuring which reduced bank debt to £5.1m. Scottish Enterprise also awarded the company a grant of up to £2m.
“Our plant is currently operating at near to full capacity on some product lines and this investment will provide us with the ability to increase output by a further 10% once completed,said Superglass chief executive Alex McLeod.