The new operation, Ibstock Futures, will target the immediate opportunity to increase Ibstock’s presence in façade products and solutions for the fast-growing off-site and modular construction markets in both the new build and re-cladding markets.
The new flagship automated brick slip systems factory for Ibstock Futures will be built in Nostell, West Yorkshire. In combination with high-quality offset projects, it will produce the UK’s first net-zero carbon brick slip.
The planning application process has commenced, and construction on site is expected to start during the first quarter of 2022.
With capacity for up to 60 million brick slips per annum, the factory will help to meet fast-growing UK demand for around 120 million slips a year.
Joe Hudson, chief executive officer of Ibstock said: “The launch of Ibstock Futures is an important strategic development for the group and will directly address a number of exciting growth markets that complement our existing offer for conventional building methods as the focus on sustainability and the industrialisation of construction processes gathers pace.
“This investment in brick slips manufacturing capacity at scale will be a first for the UK and will enable us to take a leadership position in this fast-growing market.
“The Nostell plant is the first of a pipeline of growth initiatives we have in development for Ibstock Futures and we are excited about the potential this new business has to accelerate growth in the years ahead.”
He added that the potential markets for these technologies and systems was now substantial and growing faster than the wider building products industry.
“Furthermore, manufacturing of the target products is typically less capital intensive, enabling the Group to develop with greater agility and speed. ”
Ibstock’s expectation for the business unit, which will be headquartered at its London I-studio, is to scale revenues rapidly over the next five years, delivering growth through a combination of both organic and inorganic investment.
Meanwhile, the redevelopment of our Atlas wire cut clay brick facility in the West Midlands is progressing well with planning approvals secured, equipment orders placed and construction work underway.
The project is on track to commission, as expected, by the end of 2023.