Work has started on a £9 million investment by Sealey Power Products in Bury St Edmunds which will boost its workforce by 10 per cent.
The company is building a 185,000sqft service centre and warehouse on land it has bought close to its headquarters in Kempson Way.
Monday saw managing director Mark Sweetman, architects Wincer Kievenaar and builders Barnes Construction, meet for a soil turning ceremony.
“It is a significant day in our company’s history. We are taking the business forward.
“We need the extra facilities,” Mr Sweetman said.
“Currently our turnover is more than £50 milliion. This development will enable us to take the business turnover up to £75 million over the next 10 years and in the process create new employment, allow use to make new products and get into new markets both in exports and here in the UK.”
The business, which employs about 330 people, supply tools and equipment predominatly for the automotive industry.
The new site will allow it to target the construction, leisure and agricultural markets.
The new building should be in operation by next January.
The company was founded 32 years ago in Bury St Edmunds, and operated from several small rented premises before moving into a purpose built siite 25 years ago, now occupied by Matalan.
The firm relocated to Kempson Way 13 years ago. It is currently undergoing a £1.6 million upgrade to its computer systems.
It has also just opened an office in Taiwan, its second international office, the other being in Shanghai.