Factory purchase secures future for growing offsite manufacturer
Offsite modular specialist M-AR has completed the purchase of its existing manufacturing facility in Hull.
The business says this further strengths its position and ensures it can keep pace with current demand, as well as enabling it to prepare for future growth in the offsite construction sector.
M-AR, which describes itself as a ‘contractor with a factory’, is embarking on a significant programme of growth underpinned by re-investment into the business, including purchasing new equipment, hiring more staff and undertaking training programmes.
The purchase of its 100,000 sq ft manufacturing facility – which is valued at £3m and can produce around 400 modules per year – is part of this plan.
Through its investment to date, the offsite manufacturer has been increasing its production capacity.
It explains the move from leased to purchased facilities, as well as bolstering its asset book, gives the business total control over its premises enabling its team to make any necessary adjustments to the layout to better suit its processes and bring greater production efficiencies.
Plans are now underway to increase the factory’s usable production space, as demand is forecast to continue rising.
Ryan Geldard, director at M-AR, said: “This is another major step for us as part of our ambitious five-year growth plan.
“As well as giving us complete control over our own manufacturing facilities going forward, it gives our staff and clients reassurance that we see further growth opportunities in the offsite construction market.
“This is another positive chapter for us, which demonstrates both our long-term commitment to the industry as well as to our local community of Hull.
“This investment puts us in a strong position for project delivery as we look ahead to 2023.”