Redditch-based component manufacturer Peterson Spring Europe (www.pspring.com) has bought land adjacent to its existing factory so that it can expand.

The firm, which employs 75 people, said that new jobs could be created. The company is one of the longest-established businesses in Redditch; its US parent celebrated its centenary last year, but the local operation — previously known as Heath Springs — goes back a further 11 years.

Financial controller David Jones said that the plan is to begin construction of a new complex next year, with completion aimed for the spring of 2017. “In terms of economies of scale, it makes sense to amalgamate on the connected site, in order to support the growth that the business is seeing. The automotive industry is very strong at the moment, accounting for 90% of our output.”

Peterson Spring Europe’s parent firm is the largest private-sector spring manufacturer in North America. Designing, manufacturing and supplying springs, snap-rings, wire forms, clips, clamps, stampings and a variety of sub-assemblies, it operates from 13 locations world-wide.