The boss of an expanding toolmaking firm says he is ‘ecstatic’ at the move which will bring ‘big benefits’ to the local economy.
Petford Tools, based in Peartree Lane in Dudley, will hire 23 staff for its new manufacturing base in Station Road in Brierley Hill, which is expected to open in two weeks.
The firm announced the £800,000 investment plan for the factory after scooping a six-figure grant from the Government’s Regional Growth Fund earlier this year.
The company’s success comes on the back of a recent boom in the car industry, which has seen it pick up many large contracts for making vehicle manufacturing tools.
It has a £6 million a year contract with Jaguar Land Rover, as well as £3.5m a year contract with BMW Mini.
This month, the company is starting new £2m a year deals with both Bentley and JCB.
Managing director Melvin Sinar today confirmed the number of new staff the company wanted at its new factory.
He said: “We are ecstatic about the company’s expansion – business is going well and we’re going to be able to increase production and bring in new staff.
“This is right for the area and will bring in big benefits for the local economy and workforce.
“We can’t wait to get the factory open and bring in our new employees.”
The company currently employs about 130 staff. It has a main office and warehouse in Peartree Lane. It also opened new factories in China and Taiwan eight years ago.
Mr Sinar said he was confident he would hit a sales target of £16m this year, adding there were further plans for expansion within the firm.
He said: “We have plans to expand the Brierley Hill factory again, creating more space for work and jobs. We don’t just stand still, we have always looked to invest to grow the business.
“Three years ago we employed 90 people – that shows how far we have gone in recent times.
“We give our customers what they want and are proud of what we do, these are exciting times for us.”
The factory in Brierley Hill will be where the work for JCB will take place. Work on the site started five weeks ago. Bosses hope to open it in two weeks.
Petford Tools was founded by chairman Mick Parr in 1972. It was first operated from a single unit in Brierley Hill.