Superglass suffers on shutdown warning

INSULATION manufacturer Superglass yesterday warned its full-year profit will be hit by a partial shutdown of its factory at the weekend.

Shares in the Stirling-based firm, which makes glass mineral fibre insulation, slumped 19 per cent to 21.5p on the news.

A failure of one of two furnaces late on Saturday was blamed for the shutdown. The firm estimates the furnace will not be working at full capacity for at least eight to 12 weeks. It said the slowdown in production would be "substantially mitigated" by using its other furnace 24 hours a day but there would be a "reduction in profitability" for the year ended 31 August.