£2m investment made by engineering firm
A Shropshire-based pressings and assemblies specialist has invested more than £2m in acquiring its largest ever progression press.
SDE Technology has installed a 1000-tonne Chin Fong press and coil handling line at its Brixton Way factory in Shrewsbury, an installation that will allow larger die usage and help create larger products for use in the automotive sector.
The press has created the capacity for more than £2m of new revenue, with the management team already in discussions with larger OEMs and tier 1s looking for security of supply and opportunities to de-risk the supply chain.
Eight new jobs have been created and tens safeguarded because of the investment.
Richard Homden, managing director of SDE Technology said: “This is our largest ever progression press and one of the largest in the UK automotive supply chain.
“It is a fantastic time to invest in this new capability. Yes, there are current headwinds, but for the bold there are also opportunities, with lots of reshoring, electrification and carbon reduction projects currently being discussed.
“The £2m investment will be a game-changer for our business and the West Midlands as a whole.”
SDE Technology is one of the largest manufacturers of pressings and assemblies in the UK, employing more than 130 people across its core production business and at Salop Haulage.
Chris Greenough, Commercial Director at SDE Technology, concluded: “The Chin Fong investment comes off the back of two earlier press installations, offering 100 and 200-tonne
“These have been put in initially to deliver pressings for the white goods industry, but they could also be used to support other tooling projects going forward.”