Earlier this year we were pleased to announce our expansion into new, larger premises on the Treleigh industrial estate in Cornwall, following increased demand for our services. As we continue to grow, it has been very important for us to ensure ongoing investment in the company so that we can continue to meet the needs of our clients, and this is something that we have been focussing on this year.
The new facility was already 40% larger than our previous plant, and continued expansion has added even further space. In addition, the Cornwall plant has received an ERDF Convergence grant of almost £300,000 to secure a total investment of £1 million for new equipment, boosting its production of springs for the automotive sector.
The UK automotive industry is a particular area of growth at present, with the Society of Motor Manufacturers and Traders (SMMT) reporting a six year production high at the end of the third quarter this year, and the Automotive Council identifying a £2bn growth opportunity for component manufacturers, which would include automotive spring manufacturers like us. The healthy growth in this sector has led to an increase in demand from our customers, which this grant and the resulting investment will allow us to meet.
Since the grant was awarded, and with the benefit of the added space at our new Cornish facility, we have been able to purchase a new Wafios spring coiler to increase production in our Automotive section. This machine is now in place, with a plaque attached to identify it as being part funded by the grant. We will also shortly be purchasing a new in-line shot peening machine to further improve production efficiency.
Here at European Springs, we are proud of our continued growth and are committed to continuing investment and driving towards future excellence. For more information about our products and services, or to talk to us about your requirements, get in touch with us today.