INDUSTRIAL laser company Rofin-Sinar UK is preparing to move in to a 80,000 sq ft factory in Hull which will double its capacity and allow it to expand its product range.
The business saw turnover drop 5% to £23.1m in the year to September 2015 as a result of exchange rate movements and price pressure, while pre-tax profit fell 14% to a “satisfactory” £3.8m.
Its European and Asian sales were worst affected – Europe was down 4%, which followed the previous year’s fall of 5%, while Asia lost all of 2014’s gains after dropping 14%.
Rofin-Sinar UK spent £4.8m during the financial year on the new site, which it took ownership of from Wykeland in June before beginning the internal fit-out.
Its lease expires on its current site this month, when it will complete the transfer of its operations to Bridgehead Business Park.
The move was partly supported by £1m funding from the Regional Growth Fund, which was also investing in its job-creating £5m project to develop lasers that can cut through touchscreen glass on smartphones much faster, reducing manufacturing times.
