Global spring manufacturer Lesjöfors AB is investing £1m and launching a new company, Lesjöfors Heavy Springs UK, out of its two manufacturing sites in Cornwall.
The UK factories were formerly called European Springs & Pressings.
Michael Gibbs, Managing Director of the newly formed company says: “This is a really exciting new chapter for the Cornwall factories. Our new company and new name reflect a unified team under the Lesjöfors AB brand and the world-leading springs we manufacture for customers across the automotive, rail, agriculture, oil, mining, construction and energy sectors in the UK.
“We have achieved a record-breaking order book over the last year; sales are up 35%, we’ve grown our team by 40% and our annual turnover is our best yet at £15m. This year we’re investing £1 million in new machinery and every element of our performance has been driven by an ambitious and progressive team, propelled with investment support by Lesjöfors AB.”
The rebrand is part of a new division, focusing on growth and significant investment in the heavy springs sector across the specialisms, product range and industries served within the Lesjöfors AB heavy coiling sites in the UK, Finland and Sweden.
Ola Tengroth, CEO of Lesjöfors AB says: “As part of our global long-term future-focused growth strategy, the heavy springs sector has been identified as one of four key expansion areas and the Cornwall sites evolution, to a new Lesjöfors brand, is a natural fit for the company’s future.”
Michael Gibbs added: “We’re evolving for our customers; enhancing efficiencies, committing more investment and moving forward, together with our heavy spring colleagues in Finland and Sweden, as a progressive and competitive global design, manufacturing and technological development network.”
Lesjöfors AB is rapidly expanding its portfolio with a mergers and acquisitions programme that has seen the company acquire nine sites from the US and Europe in the last few months, with further announcements planned for the year ahead.
European Springs & Pressings will continue its manufacturing operations in Kent.
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