Formaplex has announced it’s investing £3 million over the next year, to further increase capacity with a new 100,000 sq ft factory, expand its current manufacturing facilities and invest in new technology.
With the support of its private equity backer, the south coast based company has invested a total of £14 million on new facilities and equipment over the last five years. Over the same time frame the company’s turnover has increased from £9.4 million to £38.7 million with employee number going up from 51 to 300.
Currently operating from three facilities in Hampshire which collectively span over 140,000 sq.ft, Formaplex offers a fully integrated composite services. The new facility will allow Formaplex to further increase manufacturing capacity as well as its range of services.