Zotefoams, a manufacturer of porous materials, recently announced an investment plan backed by its shareholders. The first investment includes doubling the capacity of infrastructure for future needs, and land planning for further development. .
The plan focuses on investing 230 million pounds in the third foam manufacturing base in central Europe. It plans to put into production in 2020, which will help increase the production capacity of the Group's polyolefin foam by about 20%. The new base also includes a large amount of inventory capacity. Capabilities, as well as the production center for the proprietary insulation products of the T-FIT® series.
Zotefoams sales and profits set a historical record in 2017. Revenue increased by 22% to reach 7.015 billion pounds, and pre-tax profits increased by 22%.
When talking about the latest investment, Group CEO David Stirling said: 'As the demand from different market sectors continues to grow, we believe that it is time to invest in capacity increase to supplement our factories that have already been put into operation in the United Kingdom and the United States. Production status. '