A MAJOR employer in Bury St Edmunds has unveiled plans for a £10 million investment, that will see its workforce grow by 10 per cent.
Sealey Power Products has bought land at the Suffolk Business Park and is awaiting decisions on planning applications for a 85,000sqft service centre and a 102,000sqft warehouse.
“We finished our financial year last month with just over £51.5 million in sales. This investment is part of a 10 year plan to take that up to £75 million,” said managing director Mark Sweetman.
The company which employs 320 people, supplies tools and equipment for the automotive, agricultural and engineering sectors.
Mr Sweetman puts Sealey’s success down to a strong drive on customer focus, with the firm increasing the amount of stock it holds and making sure it is able to dispatch orders quickly.
Mr Sweetman said subject to planning permission he hopes work on the site will start in the summer and be completed by October 2013.
Together with the installation of a new computer system in the next 12 months, the expansion will cost about £10 million.
In the short term the firm is looking to take on six apprentices, while it also hopes to recruit another 30 to 40 staff over the next couple of years.
“Apprenticeships are something new for the company,” said Mr Sweetman.
“Years ago we used to take on school leavers through our own training programme and we have members of our board of directors who started out 25 years ago under that scheme.
“Now we are looking to recruit the young blood that is going to take the company forward in the future.”