Turkish firm's £45m Suffolk factory to open in six months
Assan Panel's new advanced manufacturing plant at Gateway 14 in Stowmarket will create around 100 highly skilled jobs and boost UK capacity for high-performance building materials.
Why it matters: The investment by one of Turkey's leading industrial groups will strengthen the UK's export capabilities in advanced building materials, with the factory's proximity to the Port of Felixstowe providing a key strategic advantage.
The big picture: Minister for Freeports Alex Norris MP met with senior representatives of Assan Panel and Freeport East last week, together with Turkish Ambassador Koray Ertaş, to mark progress on the factory construction and discuss further bilateral trade opportunities.
The details: The new 87,000 sq ft facility will produce mineral wool core panels and fire-resistant composite panels, including low lambda, small CO2 footprint products. It represents only the second mineral wool core panel production plant in the UK with the ability to produce PIR core (SmartCore) composite panels.
What they're saying: "The Assan Panel factory in Suffolk is a great example of the investment freeports can attract, in this case supporting both the advanced manufacturing and clean energy sectors," said Minister Norris.
Steve Beel, Chief Executive of Freeport East, added: "Assan Panel demonstrate the great potential for the UK's Freeports to attract significant new international investments that will provide more competition and choice for UK businesses and consumers."
The bigger picture: Following the launch of the Government's Solar Roadmap and commitment in the Industrial Strategy for an Advanced Connections Service, Freeport East and the Minister discussed opportunities to deliver further clean energy and manufacturing investments supported by local energy grid expansion.
What's next: The facility is expected to begin production in six months, with Managing Director Ihsan Tolga Akar saying the investment is part of the company's "sustainability-oriented growth strategy" and will provide "strategic advantage with its location close to the European market".
The bottom line: This major international investment demonstrates how the government's Freeports policy can successfully attract overseas investment to our region, delivering high-quality jobs whilst strengthening the UK's manufacturing capacity and export performance.
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