Iplas, the manufacturer of the Zyplex range of high performance recycled plastic material made from 100% British waste, has reported a 50% increase in sales in the last 12 months.
Grahame Hall, chief executive of the Great Britain-based company, claims the building blocks are in place for further growth and that the group is on course to quadruple turnover by 2014.
He attributes this to a strengthened sales team following three new appointments and significant progress in new product development in three key market areas - Zypave, a SUDS-compliant plastic grid system for car parking, maintenance-free Zyplex Fencing and retaining wall system Ecocrib.
The company is also in production of the first railway sleepers made from Zyplex.
These developments follow major investment into machinery and tooling as a result of a $4 million cash injection 18 months ago from green venture capital investor Foresight Group.
Hall said: "The last year has been very successful for the group and we are confident about the future. We see Zyplex as the new standard for building materials with thousands of possibilities for its use and we will continue to drive the brand forward.
"Our objectives focused on sales, new product development and achieving production efficiencies and these, along with investment in people and infrastructure, have contributed significantly to our growth."
Anthony Clark is a reporter for Plastics & Rubber Weekly, a sister publication of Waste & Recycling News.