A motorsport parts company hopes to create 150 jobs in five years after purchasing the former GEC Siemens building on the Dennington industrial estate.
Crosby Composites, currently based in Brackley, was in need of additional premises due to company growth.
The firm was originally set up by Paul Crosby – a former race engineer for the March Formula 1 team. He started trading in a small industrial unit on the Silverstone Racing circuit
supplying glass fibre wet lay panels to the motorsport industry over 30 years ago.
The company, which now supplies high quality carbon fibre components to a range of clients in several industries including motorsport, aerospace and medical sector, occupy two facilities in Brackley, employing 90 people.
[pullquote]This is excellent news for our Borough [/pullquote]
Paul Field, Managing Director of Crosby Composites, said: “Our existing buildings had become full to capacity which led to a search of the Midlands for additional premises.
Recruitment
“As well as providing a suitable building, Wellingborough offers a mix of skilled labour and candidates that we will train to a high level within the composite industry.”
The firm runs its own in-house training programmes and have announced plans to start recruiting soon.
The Borough Council of Wellingborough granted a change of use of the property to accommodate Crosby Composites.
Councillor Peter Morrall, Chairman of the Planning Committee, said: “This is excellent news for our Borough and we unanimously supported the company’s planning application.
“Wellingborough is growing, with major developments including that £500 million Stanton Cross project underway. More and more businesses are seeing that out Borough [sic] has to offer and are choosing to set up here. With our low house prices, excellent transport links and strong development plans, Wellingborough is going from strength to strength.”
The new property, which boasts 63,000 sq ft on 3.83 acres, was acquired through Prop-Search, acting on behalf of insurance giant Aviva.
Simon Toseland, a Director at Prop-Search, said: “I’m delighted that we managed to secure Crosby Composites for Wellingborough. The former Siemens building was too low for modern day warehousing but is ideal for manufacture.
“This combined with the town’s growth plans and future employment pool, means that Crosby (and other businesses) can take a long term view of the location, offering job security and opportunity for local residents.”