Engineering firm Surface Transforms to move factory from Cheshire to Liverpool
Surface Transforms has signed a heads of terms agreement on a lease for a factory based in Merseyside after the City of Liverpool pledged to offer financial support to the engineering firm if it moved its operations to Merseyside.
The carbon fibre reinforced ceramic (CFRC) materials manufacturer, which produces parts for the automotive and aerospace industries, will receive £500,000 in financial support from the Merseyside Special Investment Fund. This consists of a £200,000 grant from the Regional Growth Fund and a £300,000 interest-free loan.
The engineering company will be moving from its current premises in Ellesmere Port, Cheshire, to its new factory in Knowsley Business Park. The relocation will be achieved in stages; the initial phase will begin in September 2016 when 30,000 square feet of the new factory will be in operation; followed then by a further 25,000 in 2017.
The new factory in Knowsley is significantly larger than the firm’s current location, which measures 12,000 square feet, compared with the 55,000 square feet at Knowsley.
Kevin Johnson, Surface Transforms chief executive, said that the CFRC firm had recently been in negotiations for six new “game-changing” contracts; one aerospace contract and five automotive contracts. These would significantly increase the need for higher production rates and would increase the company’s sales to up to £15m per year from 2018.
Kevin Johnson said: “Our current site is insufficient for a company of that size and we have therefore been searching for a new site which can both cope with this ‘pilot plant’ demand level as well as providing further space for target sales beyond £15m p.a. in subsequent years.”
Please click here to find out more about our car leasing services.