FFEI will invest over R30million (£2m) in a new technology centre in Hemel Hempstead, UK. The company acquired the facility, which includes a bespoke, modern fit out, for its product development and manufacturing operations.
We are delighted to announce this investment, which underlines our commitment to the business, said Andy Cook, Managing Director, FFEI Ltd. We have a lot of new products being developed both in our Digital Printing and Life Science businesses that need both flexible and modern facilities. Todays announcement will give the organisation the environment it needs to ensure our on-going success.
Earlier this year the organisation was awarded its third Queens Award for Enterprise in the Innovation category, demonstrating the importance placed on innovation and product development. With this announcement, the organisation will continue to build on its strong ethos of product innovation.
Building on the success of our Inkjet Label press, Caslon, we plan to introduce several new Inkjet products later in the year, which required a major investment in our infrastructure, said Cook. With our strong financial position we felt it was the right time to acquire a new building and position the company for growth.
With the success of our RealPro Workflow and packaging software products announced earlier this year, the next few months will be focused on modernising our infrastructure and launching these new digital printing devices. Alongside our market leading CTP product range, we expect a busy and exciting time for the organisation.
The company will begin the transition to its new facilities in early July once the building is complete. The existing facilities will be run in parallel for a short period to ensure a smooth transition and minimal impact on customers.