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Investment, expansion and a new era for Lesjöfors Heavy Springs
Lesjöfors AB, the €300m global spring manufacturer, is launching a new company and rebranding two of its UK factories.
The two factories in Cornwall, currently employing 77 people, and formerly called European Springs & Pressings, will now form a new company called Lesjöfors Heavy Springs UK.
The rebrand is part of a new division, focusing on growth and significant investment in the heavy springs sector across the synergised specialisms, product range and industries served within the Lesjöfors AB heavy coiling sites in the UK, Finland and Sweden.
Michael Gibbs, managing director of Lesjöfors Heavy Springs UK, said “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.”
Ola Tengroth, CEO of Lesjöfors AB, added: “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.”
Gibbs concludes: “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, which has more than 50 manufacturing and technical sales sites across the world, 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.