Bathroom company to invest £100m in innovation
Bathroom specialist Ideal Standard is planning on investing £100m over the next three years in innovating from its base in Hull.
The company, which employs 270 people at its Hull headquarters, can trace its roots back 100 years.
The company is now investing millions of pounds on product innovation and a rebrand.
Sales reached €739m in 2016 and reported EBITDA results grew by 14% to €81m.
It will be the largest investment the company has made in ten years.
Ideal has identified three areas of focus including investments in manufacturing technology and production capacity investments as they look to grow, customer service and finally product innovation.
It has already launched several products including a touch-free tap delivering soap and water from a single device and a ‘minimal splash’ basin for healthcare environments.”
Torsten Türling, chief executive officer of Ideal Standard International: “This year’s ISH is not like any other exhibition. It represents a milestone in the evolution of our company. We present our sharpened long term strategy and our new corporate brand that represents what we stand for as a company.
“Our path forward is clear: making significant investments in growth , focusing on the needs of our professional customers and driving innovation through Connected Intelligence.
“I am also grateful for the trust and support from our investors, who are as confident as we are in our future and have provided additional funding to grow the company. Ultimately for us it’s all about delivering value for our customers.”