Moulded Foams has already embarked on a GBP 0.2 million reinvestment and renewal programme at the Western Isles-based factory Polybox.
In a press release, Moulded Foams writes that following an investment from the investment fund British Growth Fund (BGF) last year, it has acquired Stornoway-based Polybox, a supplier of polystyrene packaging to the Scottish salmon industry.
Moulded Foams has already embarked on a GBP 0.2 million reinvestment and renewal programme at the Western Isles-based factory, investing in new machinery to support increased demand for fish farming in the Outer Hebrides. Family-owned Polybox said it saw Moulded Foams as the “natural acquirer of the business to protect and grow capacity on the island”.
The company has existing manufacturing sites in Cumbernauld and Peterhead.
Moulded Foams produces a range of 98 per-cent air products which protect food, goods and insulate buildings. With properties including temperature resistance, shock absorption, acoustics and lightweight load-bearing, the foams supplied by the business help preserve energy and protect the longevity of goods for both export and domestic markets.
Moulded Foams CEO John Thornberry said that he looked forward to working with the management team.
“So far, we’ve expanded our operations through a mixture of organic growth and targeted acquisitions. Having factories close to our customers is key to our strategy and we will look to make further acquisitions as we expand our geographical footprint across the UK”.
