Bournemouth-based Parvalux Electric Motors Ltd has agreed in principle to buy the 8.75-acre former Siemens site in Poole. Construction of a 140,000ft² factory and office headquarters is due to commence later this year, subject to planning permission and a land quality assessment.

Managing director Nick Spetch (www.parvalux.com) said: “Parvalux has been a major employer in the Bournemouth area since 1957, and this is an incredibly exciting move.

"We chose the Poole site because it enables the amalgamation of our three existing factories to create a single purpose-built manufacturing centre and — importantly — is easily accessed by our highly skilled workforce.

"Parvalux was acquired by Maxon Motor UK Ltd in December 2018; this significant investment underlines the commitment of our parent company to the local economy and to growing the global Parvalux brand.”