Zotefoams PLC £12 million investment planned at Croydon facility (2514Z)
December 14 2017 - 2:00AM
UK Regulatory
TIDMZTF
RNS Number : 2514Z
Zotefoams PLC
14 December 2017
Zotefoams plc
("Zotefoams" or the "Company" or "Group")
GBP12 MILLION INVESTMENT PLANNED
TO BOOST MANUFACTURING CAPACITY AT CROYDON FACILITY
14 December 2017 - Zotefoams, a world leader in cellular
materials technology, is pleased to announce that it will invest
approximately GBP12 million to increase capacity at its Croydon, UK
site.
Over the past few years demand for High-Performance Products
(HPP) has increased and with strong customer interest in this
product range we expect demand to continue to grow
significantly.
The planned investment announced today is to install
low-pressure ("LP") autoclaves intended primarily for expansion of
ZOTEK(R) HPP foams. The Company currently operates four smaller LP
autoclaves for this range of products, two of which were
commissioned in early 2017. The investment, in two larger LP
autoclaves, buildings and associated infrastructure, will increase
expansion capacity for the ZOTEK(R) foams product range by a factor
of up to six times.
The Company expects the enhanced capacity to come on stream
during 2019.
Commenting on the investment David Stirling, Group CEO of
Zotefoams, said:
"Our pipeline of opportunities to sell higher margin HPP
materials is developing very positively and, with strong customer
interest in our products, we believe that now is the right time to
invest in increased manufacturing capacity to support our future
growth."
Enquiries: Zotefoams +44 (0) 208 664
plc 1600
David Stirling, Group CEO
Gary McGrath, Group CFO
+44 (0) 203 053
IFC Advisory 8671
Graham Herring
Miles Nolan
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular
materials technology. Using a unique manufacturing process with
environmentally friendly nitrogen expansion, Zotefoams produces and
sells lightweight AZOTE(R) polyolefin and ZOTEK(R) high-performance
foams for diverse markets worldwide. Zotefoams uses its own
cellular materials to manufacture T-FIT(R) advanced insulation for
demanding industrial markets. In addition, Zotefoams owns and
licenses patented MuCell(R) microcellular foam technology,
developed specifically for extrusion applications, from a base in
Massachusetts, USA to customers worldwide.
Zotefoams is headquartered in Croydon, UK, with additional
manufacturing sites in Kentucky and Oklahoma, USA (foam products
manufacture and conversion), Massachusetts, USA (MuCell Extrusion)
and Jiangsu Province, China (T-FIT(R)).
www.zotefoams.com
AZOTE(R), ZOTEK(R), T-FIT(R) are registered trademarks of
Zotefoams plc
MuCell(R) is a registered trademark of Trexel Inc.
This information is provided by RNS
The company news service from the London Stock Exchange
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