Zotefoams Plc (LON:ZTF), a world leader in cellular materials technology, has today announced that it will invest approximately £12 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® 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® 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 Plc, 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.”
