New site in Lye bought by Petford Group

Dudley’s growing and ambitious Petford Group has bought a new site in Lye to house its moulding division in a new factory.

Managing director, Mel Sinar said that the business, which is one of the country’s leading tool makers and injection moulders, was investing £1.5 million in the new project.

The purchase of the four-acre site of a former Controlled Heat Treatments works in Mears Coppice was completed just before the group shut for Christmas.

Mr Sinar said that the move of the moulding division to its new home would also mean the creation of 15 new jobs.

“We plan to start building in the new year and hopefully move in in August,” he added.

He said the extra space was needed due to the continued growth and expansion of the company and would enable Petford to continue supporting its customers and further grow order books.

A new 38,000 sq ft facility is to be built on the former CHT site and the fresh investment follows £8m that was invested in 2016 to support growth.

The group currently employs 130 between its head office in Peartree Lane and its other site in Station Drive, Brierley Hill, which currently houses its moulding operation.

The manufacturer, which was formed in 1970, will continue to carry out automotive tool manufacturing at its current site.

Last year it secured the largest tooling loan to date from NatWest of £4.7m, alongside a £2m invoice finance facility and £1m overdraft.

This was to enable the group to continue to grow and support the production of vehicle components for one of its major contracts with a leading British car maker.

In 2014 the specialist toolmakers invested £2.8m in setting up its new Petford Moulding operation in Station Drive, Brierley Hill. All the robotised machines were transferred there from Peartree Lane as its moulding operation had outgrown the Dudley site.

Petford had begun plastic injection moulding in 2006 at Peartree Lane.

The group’s management team worked closely with the Manufacturing Advisory Service (MAS) over several years to secure funding needed for its expansion strategy.