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Share Name Share Symbol Market Type Share ISIN Share Description
Zotefoams Plc LSE:ZTF London Ordinary Share GB0009896605 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -10.00 -2.35% 415.00 415.00 420.00 430.00 420.00 420.00 35,251 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 80.9 9.8 17.1 24.3 202

Zotefoams PLC Production starts at new GBP23m plant in Poland

23/02/2021 7:00am

UK Regulatory (RNS & others)


Zotefoams (LSE:ZTF)
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Zotefoams PLC

23 February 2021

Zotefoams plc

("Zotefoams" or "Group")

Zotefoams starts production at new GBP23million plant in Poland

23 February 2021 - Zotefoams, a world leader in cellular materials technology, is pleased to announce that the new state-of-the-art plant located in Brzeg, south-west Poland, commenced production this month.

The GBP23million plant was built in a key strategic move to increase global capacity and optimise service levels for many customers in continental Europe. The 13,000 m(2) facility has been under construction since February 2019.

The new plant adds 50,000m(3) - an increase of some 15% - to Zotefoams' annual global foam production capacity and the 8-hectare site is large enough to accommodate significant future expansion. With on-site storage for up to 15,000m(3) of foam, the best possible service for customers is assured. Brzeg is close to trans-European road and rail networks and within easy reach of many customers and European manufacturing hubs.

The plant will initially produce foams in Zotefoams' AZOTE(R) polyolefin foams range, for which there is significant established demand in Europe. The engineering polymers that form the basis of ZOTEK(R) high-performance foams will continue to be manufactured in the UK for global supply.

Commenting on the unveiling David Stirling, Group CEO of Zotefoams, said:

"The location of the new plant is key to increasing flexibility and responsiveness through integrated global capacity. Zotefoams has significant foam production capability in the USA, UK and now in central Europe, meaning that we are better placed than ever to serve our customers globally.

"With a post-COVID recovery forecast in many markets this year, it is vital that Zotefoams and its customers are able to respond quickly as demand returns and new projects emerge. With Brexit now behind us and its impact lessening by the day, the availability of manufacturing and stockholding facilities in Brzeg couldn't have come at a better time. We are excited about the opportunities this creates for Zotefoams and its customers."

- Ends -

Enquiries:

 
 Zotefoams plc                   +44 (0) 208 664 1600 
 David Stirling, Group CEO 
 Gary McGrath, Group CFO 
 
 IFC Advisory (Financial PR & 
  IR)                            +44 (0) 203 934 6630 
 Graham Herring 
  Tim Metcalfe 
  Zach Cohen 
 

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology delivering optimal material solutions for the benefit of society. Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE(R) polyolefin and ZOTEK(R) high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT(R) advanced insulation for demanding industrial markets. Zotefoams also owns and licenses patented microcellular foam technology to reduce plastic use in extrusion applications and for ReZorce(R) mono-material recyclable barrier packaging.

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Brzeg, Poland and Kentucky, USA (foam manufacture) Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT).

www.zotefoams.com

AZOTE(R) , ZOTEK(R) , ReZorce(R) and T-FIT(R) are registered trademarks of Zotefoams plc.

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February 23, 2021 02:00 ET (07:00 GMT)

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