Award winning surgical instrument manufacturer Sheffield Precision Medical is doubling its workforce and investing £2million in its Petre Street headquarters.
The company, which designs and manufactures instruments used by orthopaedic surgeons around the world, says the investment programme is in response to growth in exports, which currently account for 40 per cent of its £3.5 million turnover.
SPM plans to increase the size of its factory, install new state of the art machines and systems and increase its workforce from 27 to 53.
Managing director Brian Reece, who acquired SPM three years ago after working in tool manufacturing for 30 years, puts SPM’s success down to its ability to provide customers with a complete solution from concept to finished article.
“The jobs we take on are complex and, because we ensure they are delivered to market on time and competitively priced, companies come back to us time and time again,” says Mr Reece.
“While work in this area has to an extent been lost to China, we’re proving that by utilising cutting edge technologies to a high degree of efficiency, higher quality and a competitive service can be offered from the UK.”
SPM’s expansion is being backed by Sheffield City Council’s economic development department, Creative Sheffield, and a Regional Growth Fund grant, provided through Sheffield City Region Local Enterprise Partnership’s Unlocking Business Investment programme.
“The support and funding we have received has given us greater stability as we take this major step forward,” says Mr Reece.
Philippa Hedley, Creative Sheffield growth manager for the healthcare technologies sector, said: “Sheffield Precision Medical is an ideal example of how the significant advanced materials and manufacturing expertise within Sheffield companies enables them to compete and win business internationally.
“It is also great to see the company creating new skilled manufacturing jobs in the healthcare technologies industry.”