Altrincham-based PI Castings is looking to increase its turnover by 30% and create 10 new jobs.
Founded in 1950, the company intends to increase its sales to the oil and gas, defence and aerospace sectors, as well as expanding into new markets such as power generation and nuclear. It is also to begin exporting its products to Europe as part of a plan to ‘grow’ its annual turnover to £9 million by 2017.
Precision Investment Castings has worked with the Business Growth Hub and UK Trade & Investment on its growth plans.
The Hub’s growth adviser, Yousef Taktak, said: “Precision Investment Castings is a great example of a company that is embracing diversification in order to grow and build on a business that has established such a strong reputation over the past 60-plus years.
It recognises that its traditional markets are being squeezed, and it is now investing in the staff, expertise and product and service development needed to build just as strong a presence in new and emerging markets.”
Managing director Jon Badrock added: “We worked closely with the Growth Hub team to get plans in place for what will be our biggest-ever expansion drive.
"They understood the challenges we were facing and helped us to make real inroads into the new and developing markets that will enable us to grow our turnover substantially in the next three years.”