At over 370,000 sq ft, the Sherburn purchase will accommodate a large-scale production facility and marks the start of a £26.5m project, which will boost employment in the area. A new production line, for Kingspan’s highly successful Therma range of high performance rigid urethane insulation boards, is on order. Installation is scheduled for late Autumn with the line expected to be fully commissioned by Spring 2008.

Commenting on the development, Kingspan Insulation operations director Spencer Murtagh said 50 jobs would be created in the first year of operation, building eventually to over 60.

Peter Wilson, managing director of Kingspan Insulation added “We are looking forward to sharing Kingspan’s success with the people living in and around the Sherburn area, not just through direct employment but also the benefits of sustained economic growth and community involvement, as we have done at our other sites throughout the UK.”

Andrew Gent, of sole agents Gent Visick, who acted for Southampton-based vendors Craigard Investments, said: “This acquisition is fantastic news for an area that has not had the best of luck in investment and employment terms in recent years. A building is being brought back to manufacturing life, with new jobs and quality British products. Kingspan have a deserved reputation for investment, growth and market-leading products and I’m sure the new Sherburn plant will add to this image.

“In addition to the existing building, there is ample scope for further expansion on the attached seven-acre site.”

The new plant will house the second of three new production lines commissioned by Kingspan Insulation, over a three-year period of expansion. The first is at Castleblaney in Ireland, and the third will be introduced in the next eighteen months in Central / Eastern Europe.