Irish-based Quinn Group is investing 66.75m in a new manufacturing plant in Newport, Wales for production of rigid PU foam products. They will be used for thermal insulation applications in the construction market.
Work on the 74,500 sq metre factory, located on a 40-acre site, will start before the end of the summer, with commissioning planned for early 2008. Quinn will create 340 jobs, with a further 100 expected within the factory’s supply chain.
This is the second major investment by Quinn in Newport in the last two years. In 2005 it established its European HQ there when acquiring a former LG facility to convert into the world’s largest domestic radiator plant in a 135m investment that will create 460 jobs.
Group chief executive Liam McCaffruy says Quinn will be investing in the latest technology and installing state-of-the-art equipment in the PU factory, where it will employ “a highly skilled and motivated workforce”. The new factory will form part of Quinn Therm UK.
The Quinn Therm division only began manufacturing and distributing rigid PU insulation products three years ago, but had gained a significant stake in the Irish market within two years. The Newport plant will be used to target the wider UK and European markets for insulating cavity wall, floors and roofs in commercial, industrial and domestic buildings.
The market for PU products is forecast to grow rapidly because of change to the UK Building Regulations and the EU Performance of Buildings Directive.
Privately-owned, Quinn Group employs 7,000 in businesses ranging from plastics, chemicals and power to financial services, hospitality and property.
Irish-based Quinn Group is investing 66.75m in a new manufacturing plant in Newport, Wales for production of rigid PU foam products. They will be used for thermal insulation applications in the construction market.