Corporation TechnoNICOL has acquired Scottish company Superglass.
An acquisition of the largest UK‘s independent glass wool insulation manufacturer company Superglass has come to an end. TechnoNICOL has bought it for almost 9 million pounds with plan to invest 4 to 5 million pounds more within next 4 years.
Mr.Kolesnikov, a managing partner in TechnoNICOL, has revealed plans to double the capacity of the insulation manufacturer’s Stirling plant – less than two weeks after the takeover was rubber-stamped by shareholders. The added capacity, which TechnoNICOL hopes to bring in stream by 2019 or 2020, will be used to power the expansion of Superglass around the UK and into western European market.