An Accrington based manufacturer of axles is set to create 6 jobs after investing over £260,000 in new machinery, with grant support from Regenerate Pennine Lancashire.
FPW Axles Ltd designs and manufactures steer, drive and driven steer axles for all kinds of special purpose vehicles, from small electric tow tractors to large cargo handlers. The axles are designed and manufactured on site by the FPW to each customer’s individual vehicle requirements.
After winning several new customers FPW needed to increase its current machining capacity and is purchasing a horizontal and a vertical machining centre to meet this rising demand. They were able to access grant of nearly £50,000 from Regenerate, to help them complete the project sooner. The grant was supported by the Government’s Regional Growth Fund.
Scott Taylor, Sales Director at FPW Axles, said:
“At the start of the UK’s economic recession we decided to retain our skilled workforce instead of making redundancies which as a result depleted company reserves. On coming out of the recession, we had several opportunities for new business that could be exploited to accelerate our return to growth. With the grant support it has enabled us to capitalise on these opportunities and create jobs sooner. In fact, since installing the horizontal machining centre last month, we’ve experienced our best month ever.”
Councillor Miles Parkinson, leader of Hyndburn Borough Council said:
“FPW Axles have been trading in the area since 1982, employing 30 people from the local area. The grant means they will continue to grow here. Businesses in the borough that would also like to become more competitive and take on staff in future should consider if they can do so now with support from Regenerate.”
Regenerate has a number of grants and services available for new and existing businesses. Find out more here.
