A Black Country manufacturer has been bought out by its management team as part of plans to build on a record year of sales.
Worcester Presses, which provides a range of mechanical and hydraulic presses and coil processing equipment for clients all over the 海角视频, has seen turnover jump by £700,000 to £3.2 million, fuelled by demand from the automotive, aerospace and construction sectors.
In order to build on the recent expansion, owner Charles Higgins has sold his majority stake to incumbent directors Russell Hartill, Tony Carter and Ivan Littlewood.
The trio, who all have extensive experience in the machinery industry, have already signalled their intentions by investing in new equipment and recruiting apprentices.
Mr Higgins will continue in a sales and consultancy role.
Mr Hartill, who has taken over as managing director, said the firm was hoping to add a further 20 per cent in sales for 2018.
"Worcester Presses has over 69 years of history and a proud reputation for the quality of the machines we supply and the high levels of customer service we provide," he added.
"This is a fantastic business to develop and a lot of the track record and platform we have in place for future growth has come from the hard work, knowledge and contacts that Charles has brought to the business over the last 40 years."
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The company employs 14 staff at its 12,000 sq ft factory in Dudley.
Mr Carter added: "The investment in our new Dudley base has been a game-changing decision for the business.
"It has given us a more modern image and the capacity to store additional machines and adapt presses and coil-handling equipment so they are operational as soon as they are installed at the customer's factory."