McLeod moves at Superglass

Published:  21 July, 2009

STIRLING: Alex McLeod takes over as chief executive of troubled insulation maker, Superglass. 

Mr McLeod, was previously chief finance officer at BP. He has experience of the insulation market when he was managing director of Runcorn-based insulation maker, Saint-Gobain Isover.

Superglass posted a pre-tax loss of £200 000 for the first half of the year citing "the most challenging conditions the group has experienced". Shares are trading at just under 30p down from 180p at flotation in 2007.

Tim Ross, chairman, said: "We are now seeing sustained demand for our products at increased levels through the Carbon Emissions Reduction Targets programme."

Trading outside the programme continues to be difficult and in the UK there is still significant pressure on pricing,” he said.

Mr McLeod succeeds John Smellie, who retires at the end of the year. 

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