One of Europe's largest insulation manufacturers is investing more than £66 million in the South Humber Bank after deciding to open its first UK plant in Yorkshire and Humber.

Spanish owned Ursa Insulation has this week signed up to develop a 65,000 sq m site outside Grimsby, on the South Bank at North Killingholme, which will create 130 jobs in the local area.

The company is the third largest manufacturer of insulation in Europe and employs over 3,800 people across 38 sites in Europe. They have chosen the South Bank as their first UK manufacturing site as part of their drive to expand their UK market base and are currently predicting their UK sales to increase to almost £40 million.

-- Advertisement --

Theresa Lindsay, head of marketing and business development at Yorkshire Forward - who worked with the company to secure the investment in the region comments: "In a time when there is so much discussion around the state of the global economy the availability of finance for business growth, it is great news that Yorkshire and Humber has attracted another high quality investor to the region.

To support their £66 million investment, Ursa will receive a grant of up to £1.9 million from Yorkshire Forward through the Government funded Selective Finance Investment scheme to help finance the construction of the new site.

Daniel Llinas, Managing Director of URSA Insulation, said: "In order to expand our operations, URSA has looked to the UK, and the South Humber Bank, to develop a glass wool factory, from which we will serve our UK and western European customers.

"The South Humber Humber Bank is ideally positioned for us to serve these customers, both through providing excellent transport connections and employment opportunities.

He concluded: "The proposed manufacturing plant will bring economic benefits to the area, both during the construction and operational phases with the introduction of up to 130 new jobs. It will also ensure that URSA can continue to supply insulation materials, helping homes to conserve their energy and protect the environment."

(JM)