A MANUFACTURER of axles in Accrington is set to create six jobs after securing a massive grant.

FPW Axles Ltd is investing more than £260,000 in new machinery, with grant support from Regenerate Pennine Lancashire.

The firm designs and manufactures steer, drive and driven steer axles for special purpose vehicles, from small electric tow tractors to large cargo handlers. The axles are designed and manufactured on site to each customer’s individual vehicle requirements.

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After winning several new customers, FPW needed to increase its capacity and has bought a horizontal and a vertical machining centre to meet rising demand.

Scott Taylor, sales director at FPW Axles, said: “At the start of the UK’s economic recession, we decided to retain our skilled workforce instead of making redundancies which, as a result, depleted company reserves.

“On coming out of the recession, we had several opportunities for new business that could be exploited to accelerate our return to growth.

“With the grant support, it has enabled us to capitalise on these opportunities and create jobs sooner. In fact, since installing the horizontal machining centre last month, we’ve experienced our best month ever.” FPW Axles were able to access grants of nearly £50,000 from Regenerate, to help them complete the project sooner. The grant was supported by the Government’s Regional Growth Fund.

Coun Miles Parkinson, leader of Hyndburn Borough Council said: “FPW Axles have been trading in the area since 1982, employing 30 people from the local area. The grant means they will continue to grow here.

“Businesses in the borough that would also like to become more competitive and take on staff in future should consider if they can do so now with support from Regenerate.”