Holroyd wins £2.8m of funding for new plant and r&d centre
The Lancashire-based gear, screw and rotor machinery manufacturer Holroyd Precision, has won a £2.8m grant from the UK Government’s Regional Growth Fund which it will use to support the development of a new manufacturing facility and a new European R&D and Innovation Centre. The expansion will safeguard 187 existing jobs and create 137 new positions.
The successful bid was confirmed when business minister Michael Fallon (above right, with Holroyd’s HR director, Don Whittle) visited Holroyd’s Rochdale headquarters recently.
“Holroyd Precision is a prime example of how we can help companies achieve their aspirations and create jobs in a timescale that works for them,” said Fallon during his visit. "The company will maintain its strong links with Rochdale thanks to the Regional Growth Fund and build its new European headquarters in the area. So not only are they staying here in the North West, but they are expanding and creating new jobs.”
Holroyd’s CEO, Dr Tony Bannan, describes the funding as “extremely important”, adding that it “will help us to create many new permanent employment opportunities at all levels – something that is not only good news for us, but is also fantastic news for the region. It represents a significant vote of confidence in our technologies and manufacturing capabilities and will help secure the future of Holroyd Precision for years to come.”
Holroyd, whose history dates back more than 150 years, designs, builds and supplies precision gear, thread and rotor grinding and milling machines. It is owned by the Chinese industrial group, Chongqing Machinery and Electric, and is part of its Precision Technologies Group, which also includes the Binns & Berry, Crawford Swift and Precision Components brands.
