Diversified industrial engineering company 600 Group has launched its new European technology centre in Yorkshire.
In an update yesterday, the company, which owns Colchester Machine Tool Solutions, said the new site, in Elland, near Halifax, will also serve as the group’s global headquarters for its 60 staff.
The new 58,000 sq ft site includes a modern, open plan office environment plus manufacturing and warehousing space.
It also includes a product showroom, demonstration area and customer training centre to showcase the business’ product range.
Paul Dupee said the move from Heckmondwike marks a step forward for the group as it seeks to create a more ‘flexible platform’ from which to leverage the strength of the group’s brands and grow the business into diversified niche markets internationally.
“This is an exciting development for the business, which reflects our continued strategy of simultaneously de-risking the group as well as creating a strong platform for growth,” he said.
“This new facility will help foster product innovation and enable us to better showcase our leading capability to our customers.”
Mr Dupee said product innovation was central to its strategy for organic growth. It will focus on product development, including launching new products that add to the higher end capabilities of the group’s product range.
The Leeds office of property consultancy Dove Haigh Phillips concluded the deal for the new headquarters in February on behalf landlord Waddington & Ledger Group, which owns the site.
In the six months ended September 29 2018, 600 Group’s revenues increased by two per cent to $32.8m. The group said that a $270m pension scheme liabilities buy-in had de-risked the balance sheet, with the expected $4m-$5m post-tax cash surplus providing improved financial flexibility
The 600 Group is pursuing a strategy to build a global industrials business.
Mr Dupee said despite certain macro-economic and political uncertainties across its end markets, enquiry and quotation activity were good with revenue visibility underpinned by an improved order book.
The company has also invested in its senior management team in the last year. Terry Allison was appointed to the new role of chief operating officer and Don Haselton was hired as managing director of development.