MANUFACTURING SUCCESS STORY IN SUFFOLK
10th December 2015
A glass-fused-to-steel tank and silo maker which claims to be the largest manufacturing company headquartered in Suffolk has expanded its production capabilities after securing a multi-million-pound funding package.
Permastore has launched a dedicated epoxy production line and expanded its manufacturing capabilities following "strong, global demand". The funding package from Santander Corporate & Commercialwill be used to support the company's investment and growth programme, which is forecast to increase orders by 30 per cent in 2016.
Established in 1959, Permastore opened its custom-built manufacturing facility in Eye, Suffolk, in 1977. The company has to date supplied more than 300,000 structures in over 110 countries. It employs 230 staff, exporting more than 75 per cent of its products globally.
Permastore has invested £1.5m in the epoxy production line to expand its tank and silo manufacturing facility. The investment builds upon its existing vitreous enamel production line and will benefit the local community by increasing employment in Suffolk and the surrounding areas.
Permastore chief executive Brian Quarendon said: "Permastore is the largest manufacturing company headquartered in Suffolk and therefore has a key role to play within the region. With the additional capacity that this new epoxy production facility will provide, orders are forecast to increase by 30 per cent on last year's figures. The support from Santander has been fundamental to our success."
Richard Hughes, relationship director at Santander Corporate & Commercial, added: "Permastore is one of the UK's manufacturing and export success stories. The management team has a clear vision for growth, with regards to products and new markets, and we are delighted to be able to support the firm invest for the future."
Source: The Insider
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