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Advanced Insulation invests £8m in new Gloucester facility
Advanced Insulation has invested more than £8m in a new facility in Gloucester. Following increased demand for its subsea buoyancy products, the company has signed a ten-year lease for a new 65,000 sq ft factory close to its Gloucester-based head office.
The expansion into the new unit will enable the installation of state-of-the-art machinery, which will allow Advanced Insulation to significantly increase capacity, implement efficiency improvements and will include bespoke test facilities.
The programme will see all buoyancy production 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.
Andrew Bennion, managing director at Advanced Insulation, said: “This is a significant financial investment for us, 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.
“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.”
Advanced Insulation invests up to 10% of its revenue into R&D year on year. This commitment has seen the company grow substantially, opening new manufacturing facilities globally in Brazil, UAE, South Korea and Kazakhstan.