Colley takes chair at Superglass

CONSTRUCTION industry veteran John Colley is to become chairman of Stirling-based insulation maker Superglass.

Colley, a former managing director of global building systems group BPB, joined the board of Superglass yesterday and will take over when chairman Tim Ross steps down on 31 March.

Colley said Superglass, which raised £6.5 million last year as part of a restructuring, operates in a sector he knows well.

“The company has been successfully restructured to provide a sound foundation for the future,” Colley said.

“I look forward to bringing the benefit of my experience to working with chief executive Alex McLeod to build on this platform and deliver the turnaround in the business.”

Earlier this month Superglass issued an up-beat interim trading statement in which it said sales were “significantly ahead of the equivalent period last year”, costs were falling and it had been able to increase its prices.

It added that, in the first few weeks of this year, energy firms had increased their efforts to promote the UK government’s scheme to insulate homes, from which Superglass benefits.

Shares in the firm closed up 1p, or 4.9 per cent, at 21.5p which valued the company at £10.7m.