A manufacturer of high performance spring technology is set to create 9 jobs in Fylde after the creation of a new manufacturing plant, which is being supported with a government grant.
Performance Springs supply products to market sectors as diverse as motor racing, power generation and defence, with clients including Aston Martin and Bosch. The new plant will be based adjacent to their existing base in Lytham St Annes.
The facility will utilise the latest custom built production machinery to make the company more competitive by lowering manufacturing costs, and enable them to add new products to their portfolio, of which 50% is exported to countries around the world.
The new plant will be partially supported with a non repayable £67,000 grant from Regenerate Pennine Lancashire, supported by the Government’s Regional Growth Fund.
Steve Williams, Managing Director at Performance Springs, said:
“The new plant will help us meet demands of the growing automotive sector and create 9 full time roles. The finance support from Regenerate has helped us reach a shortfall in funding needed to complete the investment project. It has helped us reach this point much faster.”
“The internal fit out of the building and new machinery is currently being installed, so we should be producing products within the next few months.”
Allan Oldfield, Chief Executive at Fylde Borough Council, said:
“We give the application our full support. Activity like this gives confidence within the wider economy and shows the key role that Regenerate’s grant programme is playing in the creation of jobs created inLancashire. I’d urge other businesses in Fylde to see if they are eligible for the support.”
Regenerate received £16.5m of grant funding from the Regional Growth Fund for business to business organisations in Lancashire, to help them start up or grow. To find out about grants and support available, click here.
