Nexen invests £8.5m in Lowestoft expansion

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Lowestoft-based Nexen Lift Trucks is to invest £8.5m in its headquarters and manufacturing facility, including a 48,000 sq ft extension to its existing 55,000 sq ft factory.

The aim is to double the output of all models via new production and assembly lines; and see the manufacturer further invest in its research and development facility.

Sales director Pamela Oakes said: “Thanks in part to a thriving e-commerce-based retail market with sales that represented nearly 20 per cent of all retail sales in the UK alone in 2018, demand from logistics specialists and warehousing operators continues to show growth in both the UK and global markets.

“It is therefore vital that we continue to invest heavily in our UK facility to help us maintain current demand while increasing production to focus on growth for Nexen products, including the all-new, multi-directional Ergo sideloader.”

Nexen currently employs 50 staff at its Lowestoft headquarters and, to help facilitate the doubling of output and an increasing export order book that equates to 70 per cent of its products, the company also expects the planned investment to create 40 opportunities for new engineers, technicians and other staff.

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