Investment for the future

During the year the Company announced that it had taken possession of three commercial units at Staverton Connection Business Park, Cheltenham, adjacent to the Group’s Head Office, representing a total investment of over £1 million in new facilities.

Last week the Company took possession of two additional new commercial premises at the same location, investing a further £500,000 in new facilities. Together these new premises increase the Groups production capacity to over 30,000 sq. ft. (2015: 12,000 sq. ft.) and will facilitate significant expansion.Pennant’s Chief Executive Officer Phil Walker said: “Securing the final two Units means that the Company has exclusive use of the whole site and provides additional capacity for growth.”

The fit out of the first three units is complete and production work is rapidly progressing. Below is a photograph of work taking place on the Genfy.

Plans for the two new Units are currently being finalised but are likely to include office space, canteen/kitchen facilities, archives, stores and inspection facilities. Critically the whole site is in the process of being connected to Pennant Court to ensure a seamless connection to all IT systems.

The Pennant Connection has been marked on the map below: