SHARES in Ribble Valley based Ultraframe rose today after the firm struck a transatlantic deal.

The Clitheroe-based conservatory roofing firm has signed up to a deal with another firm to make and sell conservatories in the United States, Canada and Mexico.

The company has entered a joint venture agreement with Royal Group Technologies, which manufactures pvc components for conservatories, to set up a new firm to be called Royal Ultraframe Limited.

The new venture will start from premises in Ontario next to Royal's existing plant and will combine Ultraframe's patented roofing systems with Royal's pvc products.

It is estimated that the market for conservatories and sunrooms in North America is worth more than £4billion a year.

The city reacted well to the news. Within minutes of the market opening this morning the shares had raced ahead by 18p to 365p - up more than 20 per cent on the price the shares were three weeks ago.

The latest share price is good news for the 600-strong Ribble Valley workforce who were able to buy shares prior to its flotation now worth many times what they paid for them.

Those that have held on to the average shareholding of £20,000 since the firm floated on the stock market have seen their stake more than double to around £50,000.

In December the firm announced record results with a 44 per cent leap in profits. Since then the shares have risen by more than 60 per cent.

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