Engineering and Manufacturing
£8m investment in new factory as manufacturer reveals expansion plans
A demand for subsea buoyancy products has seen a Gloucestershire firm float to the top of the news agenda – with an £8m investment in a new county base.
Engineering and manufacturing firm Advanced Insulation has announced that is has expanded into new Gloucester unit.
It has signed a 10-year lease for a new 65,000sq ft factory close to their UK head office at Quedgeley.
The firm puts the move down to “steadily increasing demand for its subsea buoyancy products”.
“This is a significant financial investment for us (Advanced Insulation), but one that will enable us to increase capacity to meet market demand and will enhance our ability and reduce the time to develop and test new buoyancy products to meet the changing needs of the subsea market,” said Andrew Bennion, managing director.
We recently signed a ten-year lease for a new 65,000sq ft factory close to our UK head office in Gloucester.— Advanced Insulation (@aisplc) August 26, 2020
The #expansion into the new unit will enable the installation of new machinery and see an increase in capacity.
Read more on our website: https://t.co/L9uVqNDg3l pic.twitter.com/rL5BLxJlNc
“We have demanding growth objectives, and I’m delighted that we are able to proceed as planned despite the current climate we’re operating in, due to the pandemic.”
The new unitwill enable the installation of what the business calls “state of the art machinery”, which will it “to significantly increase capacity, implement efficiency improvements and will include bespoke test facilities”.
All buoyancy production will be transferred from its current production facility in Plymouth to the new facility.
“This will enable the Plymouth operation to focus on developing and growing the marine sector of the business,” said the business.
First published August 28.