Automotive components manufacturer Raicam Clutch Ltd is setting up a high-tech research and development centre in Redditch.
In a deal brokered by property agents John Truslove, the firm has acquired Unit 8, Colemeadow Road, North Moons Moat, for an undisclosed sum and agreed a five-year lease on No 9.
Together, the premises amount to more than 17,000 sq ft.
Part of the Italian-owned Raicam Group, the move follows a strategic decision to vacate its current premises in Leamington Spa.
The 100-million-euro turnover parent serves some of the largest car manufactures in the world.
Products serve both original equipment manufacturers and also into the aftermarket.
Keith Homan, operations director at Raicam Clutch, explained: “It was decided to focus on R&D and the engineering content within the UK and focus on manufacturing for the more specialist applications.
“We will be manufacturing driveline and chassis products for premium brands at the Redditch facility”.
The transfer from Leamington is taking place over the next 10-12 weeks, with the new factory due to be up and running around May-June.
It is anticipated that around 30 staff will initially be based in the new premises.
Mr Homan went on: “We chose Redditch because of the difficulty of getting suitable premises in the Leamington Spa area. The property type & values in Redditch work for us and it still allows us to stay within the Midlands area which is a prolific automotive region.
“John Truslove have been particularly helpful throughout the whole process and their support has been greatly appreciated.”
Ian Parker, a director of John Truslove, said: “Raicam is a big name in the automotive components sector – its clutches go into a vast range of cars.
“This is a feather in the cap for Redditch and allows the company to retain a UK presence which is good news for the region.
“Keeping intellectual property here is vital.”
Raicam can trace its roots back to 1920, and has a rich heritage.
Originally known as Automotive Products, the company was merged into Raicam in 2009.
The Leamington factory goes back to 1931.
Large numbers of AP-designed components were used in armoured vehicles such as Churchill and Cromwell tanks during World War Two. Many iconic motor racing cars utilised AP assemblies, such as the legendary Jaguar XK120 – a five-time winner of the gruelling Le Mans 24 Hours endurance race.