SEWTEC REVEALS RELOCATION PLANS
Tue 12 Nov 2019
Industrial automation specialist Sewtec has revealed plans to relocate to a new 75,000 sq ft facility in Wakefield.
The company has signed a 15-year agreement to lease an existing building in Silkwood Park near junction 40 of the M1, which is more than double the size of its current premises in Dewsbury.
Sewtec will now develop a state-of-the-art design and manufacturing facility in a multimillion-pound investment. It is expected to be operational by March 2020.
All 130 employees will relocate and it is estimated that more than 70 new jobs will be created at the site in the next three years.
Mark Cook, Sewtec managing director, said: "This is an excellent, modern facility which will transform how Sewtec operates and help us further realise our potential.
"Client demand for our bespoke automation machinery continues to grow at pace and in many global markets. The investment will provide us with space to meet this demand and increase our manufacturing capability.
"It will also enable us to attract and retain more highly skilled engineers, as well as benefiting the local community through apprenticeships, supplier networks and our school outreach programme. This is an exciting time for Sewtec and we will enter 2020 with the momentum required to achieve our 2023 growth target."
This July, Sewtec revealed that turnover had more than doubled to a record £28m with EBITDA of £9m, in the year to 30 June 2019. The company is now targeting turnover of £50m by 2023.
Growth follows a management buyout in August 2017, which was backed by Leeds-headquartered private equity firm Endless.
Leeds-based chartered surveyors Fox Lloyd Jones (FLJ) advised on the building acquisition, which was on an off-market basis.
FLJ has been retained to project manage the improvements, supported by Enjoy Design architects and Triangle Consulting Engineers.