Promac Group has said UK glass processors are confident about the future, with two-thirds of those polled planning investment in machinery within the next two years.
The survey of UK glass processors and IGU manufacturers at this year’s Glasstec, found that despite initial fears about Brexit, UK visitors to the international expo were continuing to invest in new equipment and machinery.
According to the poll 49% of respondents said that they expected to see ‘significant’ growth through to 2018.
A further 14% said that they expected to see ‘sustained’ if more modest growth, while 32%, said that they were ‘unsure’. Five per cent suggested that the market would start to contract by 2018.
Of the total of those polled, 68% of respondents said that they expected to make investment in new machinery within the next 12-months.
Joe Hague, managing director, Promac Group, said that there appeared to be a high level of optimism among glass processors.
He said: “Brexit was obviously the subject of significant discussion but the sense was that the industry in the UK would see continuing growth and that people were prepared to invest in it.
“We would suggest that this is, in part, down to the availability of money and very low rates of interest on commercial loans but Sterling has also recovered some of its post-referendum losses and there’s a general recognition out there that this is a good time to invest.”
