Tewkesbury-based circuit board manufacturer Trackwise Designs has revealed its acquisition of a new site in Stonehouse.

A provider of specialist products using printed circuit technology, the firm has purchased a 77,000 sq ft freehold property for £2.8 million.

Selected for its superior layout, location and costs, Trackwise said the property will allow for a significant increase in production capacity to meet demand for its Improved Harness Technology (IHT).

In September 2020, Trackwise signed a Product Manufacture and Supply Agreement with an EV OEM and expects future orders from customers in its targeted medical, aerospace, EV and also other industrial markets.

Trackwise said it will install an automated roll-to-roll IHT production line at the site with the intention of it being operational in the fourth quarter of 2021. The site also has capacity for the installation of a second line in the future.

Philip Johnston, CEO of Trackwise, said: "The acquisition of the new site in Stonehouse marks another important strategic milestone in the Trackwise story. 

"The additional capacity it affords us will underpin our growth plans across our target markets for the foreseeable future.

"Interest levels in IHT continue to grow across our target verticals, as today's announcement of our agreement with CathPrint AB illustrates, and we are excited about the future for our IHT technology."

Steve Hudson was appointed as the new chief operating officer at Trackwise earlier this month. He will oversee the day-to-day operational functions of the company across its three sites, including the fit out of the new Stonehouse facility.

Mr Hudson said: "Trackwise is at the forefront of British manufacturing innovation and I am pleased to join at an exciting time in its development. 

"I look forward to supporting Philip and the rest of our teams across our three sites, ensuring we have the strongest possible operational foundations from which to execute our strategy and realise our long-term growth ambitions."