9th Apr 2020 15:24
(Alliance News) - Frontier IP Group PLC on Thursday said its portfolio company Alusid Ltd has launched a luxury brand named Block.
The intellectual property investment company holds a 36% stake in Alusid.
Frontier IP said the Block brand - launched in collaboration with design consultancy Collective HQ - features products made from at least 98% recycled glass and ceramic industrial waste. The initial products to be manufactured are a range of tables for which Alusid will make the tabletops, and Collective HQ will make the bases.
Separately, the company said Alusid has adapted its patented technologies for scale up to mass production of tile-making equipment and has increased production capacity from 4,000 square metres a year to 1,000 square metres a day. It added that the initial production run has been bought by a major retailer.
"Alusid has made excellent progress this year, despite the uncertainty and delays caused by the Covid-19 outbreak. It has successfully demonstrated that it can scale up to mass production on industry-standard tile making equipment and has won new customers," said Frontier IP Chief Executive Neil Crabb.
The stock was trading 3.0% higher at 67.49 pence each on Thursday afternoon in London.
By Ife Taiwo; [email protected]
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