Assan Panel is set to construct its inaugural UK factory, enhancing European market presence.
- The £45m investment by Assan Panel is planned for Gateway 14 in Stowmarket, aiming for completion by autumn 2025.
- The project is aligned with ongoing UK-Turkey free trade discussions, potentially boosting international trade.
- The factory will produce innovative, energy-efficient sandwich panels for the UK market.
- Local leaders anticipate economic revitalisation and job creation from this substantial investment.
Assan Panel, renowned for its pioneering products, is poised to establish its first manufacturing footprint in the UK at Gateway 14, a strategic location owned by Mid Suffolk District Council near Stowmarket. The £45m factory aims for operational status by autumn 2025, subject to necessary approvals. This ambitious venture is synchronised with ongoing negotiations between the UK and Turkey to enhance their free trade agreement.
The planned facility will specialise in the production of sustainable and energy-efficient sandwich panels, filled with materials such as polyisocyanurate (PIR), mineral wool, or polyurethane. This innovation aligns with Assan Panel’s strategy to strengthen its presence within the European market.
Kibar Holding’s CEO, Haluk Kayabaşı, commented on the project, highlighting the company’s commitment to globalisation and market expansion. This initiative in the UK follows previous successful investments in Jordan and Azerbaijan. The company’s strategic focus on providing sustainable solutions is expected to serve the evolving needs of the European sandwich panel market.
Freeport East chief executive, Steve Beel, has expressed confidence that the model utilised in this project will attract further international manufacturers to the area, enhancing Freeport East’s status as a strategic hub. His sentiments underline the potential for this venture to catalyse further economic development in the region.
Suffolk County Council’s cabinet member for economic development, Councillor Richard Smith, has praised the projected benefits of this investment, specifying job creation and a notable boost to Suffolk’s manufacturing sector. The collaboration between local economic development teams and Freeport East was instrumental in securing this investment, marking a significant victory for regional growth initiatives.
The construction of Assan Panel’s UK factory underscores a strategic leap in market expansion and regional economic development.
