The completion of the sale will see the firm move in 2018 from its current location in Longbridge Lane in Derby to the six-acre site, which houses office space and 70,000ft2 of manufacturing space. A six-month programme to refurbish and upgrade the site will start immediately.
The £1m investment in the site will include new manufacturing equipment which is expected to double the family firm’s existing production capability.
Constructed in the 1960’s as the composite manufacturing facility for Rolls Royce, the site was at the forefront of advanced manufacturing until 2002.
Managing director Stephen Ollier said: “We’ve seen a rapid increase in demand for lightweight, high performance components from our blue-chip customers in the aerospace, motorsport and luxury automotive markets.
“We have grown more than 60 per cent in the past 12 months and to maintain that kind of growth we need a lot more space. It’s essential that we maintain the high quality and reliability that we’re known for, which results from completing every element of our work in-house and working very closely with our customers.
“Predictably meeting quality standards and delivery dates is just what major multinational companies need from suppliers like us. The new site is three times the size of our existing facilities, which gives us space to expand effectively and dependably.”
Nanogenerator consumes CO2 to generate electricity
Whoopee, they've solved how to keep a light on but not a lot else.