CO Fermanagh plastics manufacturer RE-KKUR has announced plans to expand into new markets after a significant investment in its Lisnaskea base.
Founded ten years ago, the company specializes in manufacturing plastic products for the construction industry from recycled polymer waste.
Its range of products, made from engineering plastics, is used by plastering, insulation and exterior protection professionals across the island of Ireland and Great Britain.
The Fermanagh company’s growth plans have been accelerated by £575,000 by Whiterock Finance.
Whiterock is the fund manager for Invest NI’s Growth Loan Funds, which provide financial support to small and medium-sized enterprises (SMEs) with a mix of public and private financing.
RE-KKUR said the support has helped the company grow from a workforce of nine to 29, producing around 10 million meters of product per year.
It has now invested in the development of a new recycling plant to process its own polymer raw materials. The manufacturing said its investment in recycling materials that would otherwise end up in landfills has opened up a new market opportunity for high-quality polymer raw materials, with increased sales both with local customers and abroad. ‘export.
Its polymer processing division “Jaguar Polymers” has become one of the only northern producers of recycled polymer raw materials.
RE-KKUR said it currently uses 1,500 tonnes of recycled polymer each year, from its Lisnaskea facilities, but aims to increase production to 5,000 tonnes of high-quality recyclate per year by 2024.
Chief Executive Vincent McCoy said: “Given the current shift towards green manufacturing and the widespread recognition of the need to recycle and reduce the creation of new virgin plastics globally, we have undertaken various R&D projects to study the increased use of a wide range of targets. materials, including post-consumer recycled materials, packaging waste and other blended polymers.
“Using a wide range of recycled polymers to produce our products has helped us manage raw material costs, provide increased supply to support growth targets and given us greater ability to mitigate shortages. materials and price increases,” he added.
“All of these issues are being faced by other manufacturers, so we believe this technology gives us a huge opportunity to sell to new customers in new markets.”
Una Warnock, Portfolio Manager at Whiterock Finance, said: “RE-KKUR is a great example of an innovative company that we have supported at many stages of its growth journey, with funding helping it at various times to scale up. production, to hire new staff. and perhaps most importantly to develop the new process that will allow the company to expand into previously untapped sectors and new geographic markets.
“Recent funding enabled the company to purchase market-leading electrostatic separation equipment to process pure recycled material to compete with virgin polymers.”