Thatcham-based Xtrac, which designs and manufacturers, high-performance transmissions for the motor-sport and automotive industry — and supplies most of the world’s top motorsport teams, from MotoGP to Formula One — has been given the green light to extend it factory following a mult-million-pound buyout last October by Inflexion Private Equity.

A 2,400m² addition to the south of its existing 8,200m² facility will provide manufacturing space and materials preparation areas.

Approving the plans, West Berkshire Council said that the scheme would provide economic benefits through the expansion of an existing successful business and provide additional jobs within the local economy.

Managing director Adrian Moore said that the company wanted to help put the UK at the forefront of automotive technology for hybrid hyper-cars and electric vehicles.