Irish insulation products manufacturer, Xtratherm, has announced a significant investment in a new manufacturing facility in Belgium’s Walloon Region. The new entity, which is due to become operational at the beginning of 2014, will be responsible for the manufacture and distribution of the company’s successful range of rigid board insulation products and will see the creation of approximately 100 jobs over a number of years.
Having established itself as a significant player in both the UK and Irish markets, Xtratherm has seen its mainland European business grow significantly in recent years and in 2011 sales to these customers represented close to 20% of its overall turnover. The company has set ambitious growth targets for the coming years, with key mainland European markets such as Benelux, Germany and France central to these objectives. European customers are currently supplied from two state of the art manufacturing facilities in Ireland and the UK.
The site for the new facility, close to the city of Charleroi, is ideally located with excellent access to key markets, and will in the future supply all of Xtratherm’s mainland European customers. The initial phase of the investment will comprise production and warehousing facilities of approximately 15,000m2, with space for future expansion.
Speaking at the announcement during a visit to Xtratherm’s Headquarters in Navan, Ireland, Wallonia Foreign Trade and Economics Minister, Jean-Claude Marcourt said, “A new investment in Wallonia is always excellent news. This one in particular will create quality jobs in our Region, and along with other similar investments clearly gives a renewed impetus to the Region”.
Eoghan Hynes, founder and Managing Director of Xtratherm said ‘Today’s announcement marks a significant milestone in Xtratherm’s growth. This new facility in Belgium will provide our Company with an ideal location at the heart of Europe from which to grow and develop its European business over the coming years. We acknowledge the excellent support provided to date by both the Wallonia Government and State Agencies and look forward to developing these relationships in the years ahead.”
The growth in the European insulation market and Xtratherm’s business are being driven by ever increasing building regulations across all of Europe. Strict targets emanating from the Kyoto Protocol and successive European Directives will continue to fuel the impressive growth of the sector in the lead up to 2020 and beyond.