Performance Springs in Lytham St Annes is to move to a new manufacturing plant, to allow it to cut costs and add new products to its portfolio. Nine new jobs are to be created as a result.

The new plant will be partially financed by a non-repayable £67,000 grant from Regenerate Pennine Lancashire, which is supported by the Government’s Regional Growth Fund.

Performance Springs supplies its products to sectors such as motor-racing, power generation and defence; its clients include Aston Martin and Bosch.

Managing director Steve Williams said: “The new plant will help us to meet the demands of the growing automotive sector and create nine full-time jobs. The internal fit-out of the building is currently under way, so we should be producing products within the next few months.”