German machine tool maker Heller will spend £2.5m on a new factory close to its Redditch plant, in Worcestershire. The factory should be completed by the end of the year. It also has an outline plan to spend about another £12.5m by the year 2001 on expanding the new plant. The move comes as big machine tool companies are stepping up investments in the UK because of a good production record in the past two years, aided by low labour costs and a weak currency.
- Financial Times 30/04/96 page 12
