Insulation manufacturer Superglass has announced a new member of the management team.
Allan Durning, formerly executive chairman of independent builders merchant buying group NBG, has joined the Scottish independent manufacturer as interim sales and marketing director.
Durning will form part of the team tasked with turning around the company after it suffered financial difficulties last year.
The turnaround is being spearheaded by chief executive Alex McLeod and chairman John Colley, both of whom Durning worked with at rival insulation manufacturer British Gypsum Isover (now owned by Saint Gobain and known as Saint Gobain Isover).
Former sales and marketing director Michael Beard become business development director in charge of the Green Deal, making sure that Superglass and its customers are at the forefront of the Government’s flagship energy efficiency initiative.
“I’m really excited about this opportunity,” Durning told buildersmerchantsjournal.net. “We need an independent UK-owned manufacturer and Alex McLeod has done wonders getting the company to this stage. I’m really looking forward to working with him and John again to make sure that Superglass reaches its potential.”
Stirling-based Superglass completed a refinancing package at the end of last year, raising almost £8m and agreeing a package to reduce its debt.
In the six months to the end of February, it reported revenue up 14% to £17.2m.
Chairman John Colley said when announcing the interim results: “Superglass has completed its refinancing and is on the way to delivering the capital investment programme that was at the heart of the fundraising.
“Tight control continues to be exercised over costs and working capital. However market conditions remain difficult.
“There is uncertainty over how the UK government’s flagship environmental policy Green Deal will operate and Superglass remains a company in transition.”