PLANS are underway to build a brand new 'state of the art' factory, which could mean new jobs and investment for the area.

This comes after Greenmount-based Finishing Techniques Ltd, better known as Fintek, completed the purchase of new land ahead of constructing the facility.

The new factory is planned for site 1A at Chamberhall Business Park and has been announced just as surface finishing specialist Fintek celebrates it 40th anniversary.

Company founder and managing director Jonathan Dean said: "As a machine seller, our wealth of knowledge, gained from real world subcontract projects means we understand the challenges faced by engineers every day.

"We currently run 16 OTEC machines, eight of which are newer stream finishing systems, some with their patented 'Pulsfinish' and step-processing. This gives us tremendous insight in any machine sales situation."

The company was first founded by Mr Dean in 1981.

He said: "Starting a business at the peak of a major recession and contraction in the manufacturing base, seems almost reckless when I look back now.

"However, change was coming, industry was also renewing itself and advanced surface finishing technology was in demand."

Expanding on techniques the firm has honed, he added: "In our 40th year anniversary, Fintek is in a unique position to offer under one roof AM part processing using Hirtisation and, should the customer want to take external surfaces to an even greater smoothness or mirror-like polish, we can use an OTEC stream finisher."

The new factory will mark a major milestone in Fintek's history, with the site having been highly sought after, with a number of firms looking to acquire it.

However, Fintek was able to secure the land thanks to negotiations carried out by law firm Nolan Renshaw Ltd, on behalf of developers St. Modwen Developments.

Director Paul Nolan said: "This is good news for Bury as a borough, Bury Council and also St. Modwen Developments.

"Fintek are an excellent high-tech local employer and a company born and bred in the Bury area.

"It is pleasing to see them expanding and investing locally."

Construction of the new facility will now proceed subject to planning permission being granted by Bury Council.