A BLACK Country business has purchased a new factory in Brierley Hill after receiving financial support from Barclays.
Petford Tools, which also has a base in Peartree Lane, Dudley, is in the process of moving machinery into its new 3,000sqm premises at Station Drive.
The toolmaker and injection moulding company, which employs 140 staff, will be going back to its roots with the expansion, as its founder, Mick Parr operated from a single unit in Brierley Hill in 1970.
Mel Sinar, managing director of the company, said: “We have always prided ourselves on providing a toolmaking and moulding service of the highest standard. This ethos has stood us in good stead over the years and means we see clients coming back time and time again. Like any forward thinking business, we have diversified into new markets and also offer a moulding service.
"This latest funding facility from Barclays has allowed us purchase the new premises which will allow us to accommodate the increase in orders we have received.”
Mike Corcoran, relationship director at Barclays, said: “Petford Tools have an excellent reputation in the industry formed off the back of the quality of the service they have provided to some of the biggest names in the automotive sector over many years. They have continued to develop their product offering which has paid dividends in terms of winning new contracts. The new premises will allow the company to put in to place the next stage of their expansion strategy.”
Dudley South MP Chris Kelly recently visited the business discuss its expansion.
He said: “I look forward to watching the future success of the business and I am very keen to showcase to the Prime Minister the best of Black Country engineering in action at Petford Tools on his next visit to the area.”