A Black Country precision press tool designer and manufacturer says it is targeting £3 million turnover by 2025 after it completed a £1.1 million investment drive.
Aldridge-based Phoenix Tooling & Development, which supports customers in the automotive, construction, white goods, electric vehicle and medical sectors, has extended its long-standing relationship with Worcester Presses by purchasing a new press and full coil line.
The machine delivers the longest tool bed in Phoenix's history and enables it to build larger tools and work on complex projects.
Getting the press line into the company's factory required taking the roof partially off for two days, removing part of the outside verge to accommodate the crane and building a one-foot-deep pit in which to house it.
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Managing director Martin Mulvey said: "We relocated to Shenstone Drive last year and had to make the decision whether to persevere with our 1930s Wilkins and Mitchell 300-tonne press.
"After careful deliberation, we took the decision to use the move to our new home as the perfect time to search for a new, more powerful press that had better control and ancillary equipment.
"It took about two weeks from start to finish to get the press in place, commissioned and ready for accommodating our ongoing press tooling projects.
"Five of our staff have been trained on how to get the most out of it, giving us full flexibility on the shop floor."