Future Fibres, the world’s leading supplier of composite rigging, has announced today the signing of a long-term lease agreement for a new factory space. The new space will facilitate a significant increase in operational capability to support Future Fibres’ strongly growing business activities.
The new 60,000 sqft. facility, based in Valencia, Spain, will become Future Fibres’ dedicated service and R&D facility, allowing composite cables of over 100m to be produced. The facility will also be used as a new product production scale up facility, where the manufacturing processes for new types of composite tension cables will be developed and refined for both marine and non-marine applications, in support of Future Fibres’ diversifying business.
The facility will also be used to house Future Fibres rigging service business – RigPro – where the increase in space will allow for a quicker yet more thorough level of service on cables and allow the business to focus on having the highest standards of customer care and service.
The signing of the long-term lease agreement coincides with the appointment of James Austin as the new Future Fibres General Manager. Austin joins the team after a successful period as CEO of North Thin Ply, a sister company within the North Technology Group, and has an in-depth experience of composite materials and technologies. Austin’s mission is to increase the pace of commercialisation of the Future Fibres business with an emphasis on new product development along with market leading customer service and support.
Speaking about the expansion, James Austin stated:
“I am honoured to join the Future Fibres team as General Manager in what is an exciting period for the company, and I look forward to overseeing its successful transition to the new factory. This expansion will help accommodate the company’s rapid growth and ensure that we have the ability to maintain our status as the world’s leading composite rigging and tension cable supplier.”
Sam Watson, CEO of the NTG Mast Group commented:
“Future Fibres is committed to continual investment and innovation in all areas of the business and this relocation is an important milestone in its strategic direction. We are confident that under the guidance of James, who brings with him a wealth of experience, Future Fibres’ will continue to thrive.”