A plastic piping manufacturer with £300m turnover and operations in Kent is planning to float on the London Stock Exchange.

Polypipe announced its intention to join the market today.

Founded in 1980, the company claims to be the largest manufacturer of plastic piping systems in the UK and employs 220 people at its Polypipe Terrain outlet in New Hythe Business Park in Aylesford.

The Kent factory manufactures a range of piping systems for the commercial markets.

The group operates from 16 bases across the globe, with sales evenly split between the residential sector (51% in 2013) and commercial, civils and infrastructure (49% in 2013).

Chief executive David Hall said: “I am delighted to be leading Polypipe’s return to the public markets after an important phase of structural improvements under the current owners.

“Our business has emerged strongly from the construction downturn and is now well-invested and well positioned to take advantage of new market opportunities.

“The structural trends in our market – the substitution of legacy piping materials for modern plastic systems and regulatory support for carbon efficiency and water management solutions – provide a strong basis for continued growth in the coming years”.