Global spring manufacturer, Lesjöfors AB, has rebranded its operation in Cornwall.

The Swedish-owned company has more than 50 sites across the world, including two factories in Penryn and Redruth, which were formerly called European Springs & Pressings. They will now form a new company called Lesjöfors Heavy Springs UK.

Michael Gibbs, MD of the newly-formed Lesjöfors company, said: “This is a really exciting new chapter for the Cornwall factories. Our new company and new name reflect a unified team under the Lesjöfors AB brand and the world-leading springs we manufacture for customers across the automotive, rail, agriculture, oil, mining, construction and energy sectors in the UK.

“We have achieved a record-breaking order book over the last year; sales are up 35%, we’ve grown our team by 40% and our annual turnover is our best yet at £15 million. This year we’re investing £1 million in new machinery and every element of our performance has been driven by an ambitious and progressive team, propelled with investment support by Lesjöfors AB.”

The rebrand is part of a new division, focusing on growth and significant investment in the heavy springs sector across the synergised specialisms, product range and industries served within the Lesjöfors AB heavy coiling sites in the UK, Finland and Sweden.

Ola Tengroth, CEO of Lesjöfors AB, explained: “As part of our global long-term future-focused growth strategy, the heavy springs sector has been identified as one of four key expansion areas and the Cornwall sites evolution, to a new Lesjöfors brand, is a natural fit for the company’s future.”

European Springs & Pressings will continue its manufacturing operations in Kent.