A Coventry machine tool manufacturer is set to create 30 new jobs as it expands into a new headquarters – and has major growth plans to increase output and create a range of new products.
Matrix, a manufacturer of specialist grinding machines, is moving into a new base at Coventry Business Park.
The firm, which was founded in 1913, currently employs around 30 members of staff, but the larger headquarters will enable it to double this as it looks to increase output from manufacturing 20 to 100 machines per year.
Matrix is also investing in research and development, exploring new technology including robotics and automation to create a range of new products.
The new 54,000 sq. ft. complex, bought by the company through city-based commercial property agents Holt Commercial, will eventually house up to 150 members of staff as part of the expansion.
Paul Farndon, Chief Operating Officer of Matrix, said: “We are already based on Coventry Business Park, but our new larger site will give us a freehold home and will be ready for us to move into towards the end of 2018.
“It will give us the space to quickly double our workforce as we look to increase our output and have a major push on research and development.
“Matrix is a global market leader of both internal and external thread grinding machines, and is very strong in the export market. We will continue to develop the business further by expanding our product portfolio into other grinding and metal cutting applications.
“We are looking to become a magnet for high-end skills in the area and will also develop young talent as we take on more apprentices every year. There is a lot of history with Coventry and Matrix and we will continue to invest in the local economy.”
Nick Holt, who negotiated the deal for the unit, added: “Matrix has a strong history in the city and it is excellent to see the company invest in a property on Coventry Business Park.
“Matrix is dedicated to growing and developing the business, and has development plans which will create jobs for local people and help the economy thrive.”