AUTOMOTIVE components manufacturer Raicam Clutch Ltd is setting up a hi-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 with products serving both the original equipment manufacturers but also the aftermarket.
Operations director Keith Homan said: “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 new factory is due to be up and running soon and it is anticipated that around 30 staff will initially be based there.
Mr Homan added: “The property type and 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.
“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.
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 and 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.
