Latest News | 13 January 2015
Formula One Composites Firm Sees 'Explosion of Growth'
Hi-tech engineering firm and Marketing Derby Bondholder, epm:technology, says it has experienced an 'explosion of growth' since moving into a new £6 million factory in Derby.
epm:technology said it had landed three major contracts in recent months worth more than £17 million over five years. This follows its move from Draycott to a 60,000 sq. ft. purpose-built site in Raynesway.
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“We’ve got around 100 employees and that needs to become 130 as quickly, but under control, as possible.”
One contract was for a German manufacturer for 25,000 parts per year – it will create ten jobs and be worth about £1.2 million a year.
The second contract will see the company enter the “brave new world of aerospace” where it will make a rotating part of an aircraft, a contract worth up to £8 million over five years.
Finally, the third contract, worth £800,000 per year will see parts being made for a vehicle being developed for a new race category called LMP3.
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“The new building has done its job in that it has attracted new business that we wouldn’t have got if we had not moved here. We’ve had an explosion of growth.”
