Family business Polybox Ltd is now owned by Moulded Foams, one of the UK’s largest independent producers of moulded foam products, which already operates manufacturing sites in Cumbernauld and Peterhead in Scotland, as well as facilities in Lincolnshire in England and in south Wales.
The acquisition safeguards all the 14 jobs on the Stornoway site.
Close to customers
Moulded Foams’ investment in the plant involves a rolling programme of new machinery introduction, with one machine already installed.
John Thornberry, chief executive of Moulded Foams, said: “We look forward to working with the management team led by John McPhail and Craig Gillespie of our Cumbernauld site to oversee the investment throughout 2020, 2021 and beyond.
“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.”
Moulded Foams, which bought Polybox with help from investment company BGF (Business Growth Fund), produces a range of 98%-air products which protect food, goods and insulate buildings.
Although expanded polystyrene (EPS) is not normally welcomed by most council recycling schemes, it is 100% recyclable if compacted by a machine built for that purpose. Once compacted it can be used to make items such as coat hangers, park benches, flowerpots, toys, rulers, pictures frames and architectural moulding.