A Co Fermanagh manufacturer of plaster beads for use in construction has secured funding of nearly £4m.
RE-KKUR is set to use the funding package from fund manager Whiterock to invest in new product development and improving its production facilities.
The firm, which is based in Lisnaskea, develops and manufactures plaster beads for the construction sector made from its own recycled plastic.
It now produces almost 10 million metres of plastic building products per year and employs 35 people.
The business has secured £3.75m in funding including equity investment from Whiterock’s Growth Capital Fund and debt finance from the Investment Fund for Northern Ireland, managed by Whiterock.
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It will use the funding to invest in its production facilities, with the aim of scaling production to 25 million meters of plastic building products per year.
Vincent McCoy, managing director at RE-KKUR, said: “The demand for homegrown, sustainable products within the construction industry is growing and RE-KKUR is proud to be at the forefront of this transformation.
“The investment from Whiterock enables us to grow our production capabilities, helping to create more jobs and develop an export market from our base in Fermanagh.”
Chris Trotter, investment director at Whiterock, added: “We are pleased to be further investing in RE-KKUR as they meet increasing market demand for eco-friendly construction products.
“Whiterock look forward to helping the team reach their next milestones by increasing production and supporting their product development pipeline.”
RE-KKUR uses recycled PVC plastic supplied through its materials partner and subsidiary Jaguar Polymers.