Aida Engineering, manufacturer of machine tool press machines for the electronics and automotive industries, expects to complete a £3m extension of its Derby assembly operation by the end of this year.
The increased production capacity will support a drive to double turnover by 2001 and an increase in employment from 80 to 100.
The extension will enable crane lifting capacity to be increased from 30 tonnes with 6m clearance to 100 tonnes with 10m clearance. This will increase the range of Aida products able to be manufactured in the UK.
The Derby plant was formerly operated by EW Bliss, which was acquired by Aida from receivership in 1996.
Aida UK for which exports make up 40% of a £10m turnover said it is not planning to trade in euros next year.