The Penryn, Cornwall, the spring manufacturer, with factories in Redruth, Cornwall and Beckenham near London, has expanded the size of its South West operation to over 4000 square meters.
Michael Gibbs, managing director of European Springs & Pressings in Cornwall, said: "Purchasing the new Penryn based factory is a really exciting new chapter for everyone in European Springs & Pressings and a fantastic achievement in our 70th year. This significant investment allows for further expansion of our industrial and automotive product divisions and affords new opportunities for expansion in Redruth and Penryn."
Gibbs concluded: "In the last year turnover in Cornwall has increased by 40% and we've grown to a team of 43 to over 60. Five years ago, we relocated to a larger site in Redruth from Indian Queens - we then extended that factory to meet demand and have been rapidly outgrowing our current premises ever since. This year we've been investing in 3m in new infrastructure, machinery and technologies, which is a strong indicator of the strength of manufacturing in the region and we are delighted to be further investing in, and supporting, the South West's £14bn manufacturing industry."
Over 20 staff will be fully operational from Q4 2018, specialising in the industrial element of business, supplying springs across multiple sectors, ranging from aerospace, to rail, to the food and drink sector.