IN BRIEF: Concurrent unveils altered manufacturing proposals
Concurrent Technologies PLC - Colchester, England-based designer and manufacturer of computer products for use in critical embedded applications - Announces an updated plan for its Colchester-based headquarters and UK manufacturing facilities. Reflecting planning delays, decides to adopt an alternative, lower cost option to accelerate the timeline for capacity expansion. Agrees a 10-year lease for around 14,800 square feet of office space in a newly refurbished building immediately adjacent to its existing facility in Colchester. Office-based staff will relocate to the new building, allowing the current site to be reconfigured for additional manufacturing capacity, and efficiency of production layout. Additionally, terms have also been agreed for a new 10 year lease at the current site, securing the expanded production capability beyond the mid 2030's. Concurrent will also continue with its previously stated investment in new machines to double assembly capacity, further strengthening its ability to meet customer demand. Concurrent expects to upgrade the current facility and complete the move into the new office building in the first half of 2026. Read More