Manufacturing hub to provide investment and jobs boost for Suffolk

Turkish-based building materials producer Assan Panel, has confirmed its plans to locate its first UK manufacturing facility at Gateway 14, part of Freeport East in Suffolk.

It is said the project will create around 100 highly skilled jobs in Stowmarket and bring an investment of up to £45M.

The announcement comes at a time when the UK and Turkey are discussing an enhanced Free Trade Agreement. Both Freeport East and Assan Panel are keen to ensure the investment acts as a positive signal to other companies looking to strengthen trade connections between the two countries.

Steve Beel, Chief Executive of Freeport East, said: “This announcement represents a real milestone in strengthening the presence of the 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 R&D relationships with universities and drive the development of the skills and innovation cluster at Gateway 14.

Haluk Kayabaşı, CEO of Assan Panel’s parent company Kibar Holding, commented: “Assan Panel is taking firm steps forward on its globalisation journey. We aim to further strengthen our presence in the European market with this new facility investment in the UK.”

Minister for Investment in the Department for Business and Trade, Lord Dominic Johnson, said: “Assan Panel’s investment underscores Freeport East’s outstanding offer to businesses operating in green industries, and will create new, skilled jobs in the region. This news highlights Freeport East’s exceptional opportunities which underpin their vision of a global hub for trade and investment into advanced manufacturing and green energy.”