Contract Production Ltd (CPL) has acquired its current head office and production facilities in Pickering, expanding into a third adjoining unit as part of its ongoing expansion programme.
CPL shareholders have purchased 9,600 sq ft, spread across three adjoining units on the Thornton Road Industrial estate, investing more than £500,000 in the acquisition and modernisation programme.
CPL had been leasing two of the units for the last 10 years but took the opportunity to buy both, along with a third space, that had stood empty since 2017.
This has enabled the firm that produces a range of sub-contract electronic products and printed circuit boards assemblies to almost double its current work space.
CPL Managing Director Simon Norris said: “The additional empty unit is basically a shell so we are starting with a blank space which gives us plenty of options; it’s a very exciting time for the company and the staff who will have a big say in how we can best utilise the new areas.
“The space may well be used to create a dedicated area for our automated production line to expand into, and grow our component stores and warehousing, as well as provide much-needed admin space and meeting rooms.”
Outside the premises, the new CPL footprint also allows a further 10 parking spaces for staff and visitors.
The latest expansion plans have been fuelled by a significant six figure investment last year in the firm’s production lines that have led to a 30% like-for-like increase in CPL’s turnover in the last 12 months alone.
CPL plans to officially unveil the new-look premises later this year, also coinciding with its 10th anniversary.