An Italian engineering company announced a £50 million upgrade to its Lincoln facilities, which would create some 100 new jobs in the city.
Bifrangi’s 27,000 ton screw press in Lincoln will be the first of its kind in England and one of only a few in the world.
This will enable the company to expand its product range in the off highway, power generation, aerospace, civil and military industries.
Bifrangi purchased the former Smith Clayton Forge site in Lincoln out of administration in 2001, and improved the existing facilities at the factory.
The company has been in discussions with the City of Lincoln Council as the local planning authority.
Company Director Giuseppe Saretta, said: “We still have a long way to go, but working together as the family team that we are, we can make this project and the company a great success.”
City Council Leader Ric Metcalfe said: “Bifrangi is an excellent company that will bring some more high value, high skill employment to the city and a much-needed boost to the local economy.”
City MP Karl McCartney added: “If the current Lincoln employees had not served their employers so well we might not have seen such a level of investment in future manufacturing capabilities located in our city, so much credit should go to them as well as others involved in the decision.