St Modwen Developments Ltd has just finalised a major deal to develop a new 7,432 sq m (80,000 sq ft) factory, service centre and headquarter offices for Finning Materials Handling at Orbital Centre, Cannock.
The fast-track project on a nine-acre site, which will also provide for future expansion is scheduled to be completed mid-November to enable Finning to be in occupation by the end of the year.
Finning is taking a 20- year lease with fixed uplifts from an initial rent of £419,000 but has an option to acquire the site prior to practical completion.
Derek West, of St Modwen, said: “Finning is rationalising and reorganising its materials handling operation on to one site at Cannock. The move will create 50 new jobs in the area.”
Tom McCloy, divisional director,Finning Materials Handling, said : “The consolidation of our materials handling facilities, particularly back office activities, will make us more efficient and being centrally located in Cannock will assist us in improving our logistics capability.”
For further information contact Derek West of St Modwen on 0121-456-2800.
Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).