Around 100 jobs will be created at a new £45 million Stowmarket manufacturing facility for a Turkish building materials firm.
Istanbul-based Assan Panel is planning to locate its first UK manufacturing facility at Gateway 14, part of Freeport East.
The firm produces sustainable building materials and is one of the world’s market leaders in the sector.
The move to Gateway 14 would create around 100 highly skilled jobs in Stowmarket and bring an investment of up to £45 million.
İhsan Tolga Akar, Assan Panel managing director, said that subject to approvals it was hoped the new plant could be operational by autumn 2025.
As part of its investment Assan Panel, which exports to 85 countries from Turkey, also plans to establish a new office in Ipswich.
The new multi-million-pound facility would manufacture sandwich panels filled with polyisocyanurate (PIR), mineral wool, or polyurethane – critical components for constructing sustainable and eco-friendly buildings.
Steve Beel, Freeport East chief executive, said: “This announcement represents a real milestone in strengthening the presence of green industry in and around the Stowmarket and wider Freeport East area.
“As well as direct job creation, the investment will provide opportunities to build strong local research and development relationships with universities and drive the development of the skills and innovation cluster at Gateway 14.”
Lord Dominic Johnson, minister for investment in the department for business and trade, said: “Assan Panel’s investment underscores Freeport East’s offer to businesses operating in green industries and will create new, skilled jobs in the region.”
Jacob Young, minister for levelling up, said: “This significant commitment by Assan Panel, made possible by the government’s Freeports programme, not only brings high-skilled jobs and investment to the east of England but also strengthens the UK’s important trading relationship with Turkey.”
Councillor Richard Smith MVO, Suffolk County Council cabinet member for economic development, skills, transport strategy and waste, described the plans as ‘excellent news’.
“This is a substantial investment which will create many new local jobs and be a significant boost for Suffolk’s manufacturing sector,” he said.
Haluk Kayabaşı, chief executive of Kibar Holding, said: “Kibar Holding, one of the leading groups of the Turkish industry, under which Assan Panel operates, is taking firm steps forward on its globalisation journey.
“We aim to further strengthen our presence in the European market with the new facility investment of Assan Panel in the UK.”
Gateway 14, led by Mid Suffolk District Council-owned Gateway 14 Ltd with development partner Jaynic, is next to the A14 at Stowmarket.
