It is hoping to drive orders of £180m over the long-term from a new factory in the Central Asian country of Kyrgyzstan.

One of Wales’ leading exporters, Concrete Canvas, is progressing a major investment that will see it establishing a new production plant in the Central Asian country of Krgysztan.

The Pontyclun-based business, which specialises in producing a synthetic alternative to concrete – Geosynthetic Cementitious Composite Mats (GCCMs)- last year signed a deal to build its first production plant outside the UK in the Chuy region of northern Kyrgyzstan.

The first production line expected to start operating next year. Over the next ten years the new plant is expected to drive sales of £180m into the central Asian marketplace.

Concrete Canvas’ technology can be installed more rapidly than conventional concrete and require only minimal equipment This will speed up efforts to modernise Kyrgyzstan’s dilapidated Soviet-era irrigation channels and helping to return farmland to productive use.

READ MORE: We shouldn’t get hung up on firms being Welsh-owned but those with potential for growthREAD MORE: Leekes invests to create two new departments at its flagship Llantrisant store

UK Ambassador to the Kyrgyz Republic, Nic Bowler, and his team, played role in securing a visit from the then Kyrgyz Prime Minister to the Concrete Canvas factory in Pontyclun, which resulted in a long-term £180m export deal being signed.

Mr Bowler, who hails from Crickhowell, said:“Wales is brimming with innovative businesses seeking to connect with the world. Part of what I love about my job is promoting these businesses – and even better, connecting the right people to sign deals.

“Bringing this unique offer together and making it accessible to the Kyrgyz delegation put Wales firmly on their itinerary and ensured Concrete Canvas was their first stop.”

Peter Brewin, co-founder of Concrete Canvas, said: “The support from Nic Bowler and his team has been instrumental in this venture, which will enable Concrete Canvas and our partners to bring a world-leading British technology to Kyrgyzstan, one of the fastest growing economies in the world.

“Through this joint venture with our partners Integra, UCC and the Kyrgyz government, we are working to conserve the Kyrgyz water resources more effectively, in order to feed and provide renewable hydropower for the people of Kyrgyzstan and across Central Asia. We have found the Kyrgyz government to be an excellent partner.”

GCCMs are a cost-efficient solution for lining irrigation channels to prevent erosion and reduce water loss. The flexible, concrete-filled geotextiles harden after water is applied to create a durable, waterproof surface.

Stephen Doughty MP, Minister for Europe, North America and the Overseas Territories, who is also MP for Cardiff South and Penarth, said:“This government is committed to driving economic growth across the UK, including in Wales, and cutting the cost of living for British people. “This is a great example of how our diplomatic network is delivering for Wales – supporting homegrown talent in accessing new opportunities for trade and investment.”

This week, Foreign Secretary Yvette Cooper is hosting her counterparts from Kyrgyzstan, Kazakhstan, Tajikistan, Turkmenistan and Uzbekistan in London for talks that are expected to result in a number of deals relating to critical minerals and university partnerships.

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Sverre Flatby
Chief Executive Officer

Good morning, everyone. I am here with my colleague and CFO, Einar Bonnevie, and we thank you all for joining today.

Let me start clearly. The fourth quarter 2025 was a record quarter, and 2025 was a record year. So, we have interesting topics for you to go through today, and these are the main highlights. We’re going through the fourth quarter highlights, the full year ’25 and of course, AI, which is important. We’ll go through that deeply.

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Status when it comes to M&A. And as you see, we will have a presentation for about 25, 30 minutes, and we will have a Q&A session at the end of the session. So please, if you have any questions, type them in as we go, and then we will attend to them at the end of the presentation.

So, let’s start and talk about the fourth quarter 2025. Reported revenue, NOK 135 million. That is 17% growth compared to the fourth quarter 2024. We are quite happy with that and also happy with the fact that the reported EBITDA in that quarter is NOK 31 million and the reported EBITDA margin is 23%. And even there are some one-offs as usual, this is the reported margin without any adjustments. And then the full year, it didn’t just end on the high note with the fourth quarter. The full year 2025 is also a structural step-up for Omda. NOK 496 million in sales and revenue for 2025, which exceed our guiding for ’25. That is 16% growth compared to 2024. And that also means that the operational baseline, the operating baseline into 2026 is very, very strong based on what has happened in 2025. So, the profitability and

Ocado Group has confirmed it has closed several warehouses in North America

The chief executive of online grocer Ocado has warned over “significant” redundancies after US retail behemoth Kroger withdrew from its automated warehouse collaborations, sending shares plummeting.

The company confirmed it has shut down several facilities in North America and cautioned that additional job losses are forthcoming as Ocado continues to “simplify” its operations.

The redundancy warning rattled investors on Thursday morning as shares in Ocado Group plunged 10 per cent at market opening, leaving the stock down two per cent year to date.

Total revenue before adjustment at Ocado Group increased in the year to November 2025, rising 12 per cent to £1.4bn.

The retailer, which trades on the FTSE-250, invested over £90m in technology as it embarks on a “very significant phase of investment in our robotics and automation capabilities,” chief executive Tim Steiner said, as reported by City AM.

Operating expenses at the online grocer rose three per cent to £1.6bn, and the group’s adjusted pre-tax loss narrowed marginally, decreasing seven per cent to £353m.

Ocado Group stated it aims to reduce costs by £150m and workforce reductions could reach as many as 1,000.

Ocado Group’s chief executive stated further staff losses were imminent as the grocer winds down a series of automated warehouse collaborations with US retail giant Kroger and Canadian grocer Sobeys. Ocado intensified its technology transformation last year when it unveiled plans to market its AI-powered warehouse technology internationally, which enables retailers to process and complete online grocery orders using AI.

Ocado had secured an exclusivity agreement with retail giant Kroger for the deployment of this technology in the US, but the American company cancelled three warehouses and abandoned plans for a fourth.

Sobeys withdrew from a warehouse utilising Ocado technology last month, causing the retailer’s shares to tumble nearly ten per cent.

The majority of the retailer’s exclusivity agreements with global partners have now lapsed, which Ocado’s chief executive says presents an opportunity for expansion.

Steiner said: “With exclusivity arrangements concluded in most markets, we have greater flexibility to pursue new partnerships and growth opportunities.

“We are well set to re-enter multiple markets with an evolved technology platform, designed to be more flexible, offering a wider range of solutions to help retailers to run more efficiently.”

Announcing today’s results, Steiner said its investment in new technology is “largely completed,” with the retailer “simplifying” its operating model to finance its expansion into technology overseas.

He said: “These changes will also reflect the lower structural cost base that we have signalled over recent years. Regrettably, this means a significant number of roles will no longer be required.”

This article was written by

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