Smart thinking from the Essex-based, AIM-listed producer of electronic components means it can move ahead with its expansion plan earlier and at a lower cost than originally planned.
Production to double
Due to a planning hold-up with its initial choice of site, the firm has agreed a 10-year lease on 14,800 sq ft of office space right next to its existing facility in Colchester.
That frees up space within the current 19,000 sq ft building allowing it to be reconfigured for additional manufacturing capacity and a more efficient layout. The firm expects the increase in space to allow it to double its output after investing in new equipment.
Thanks to a combination of luck and judgement, Concurrent can now press on with its plan to double PCB assembly capacity to meet growing customer demand both quicker and cheaper than scheduled.
Meanwhile, the firm continues to deliver positive news in terms of contracts and earnings guidance, leading to more upgrades.
Read the press release here: https://concurrent.tech/investors
