June 28, 2018 / 12:00 PM / in 4 months

JCB invests 50 million stg in new British factory

LONDON (Reuters) - British construction equipment maker JCB said it will invest more than 50 million pounds ($65 million) in a new factory in central England, creating 200 new jobs by 2022.

The company, which makes JCB diggers, said it had already started building a 350,000 square foot facility near two existing plants in Uttoxeter, Staffordshire, that will enable it to double the production of cabs used to control its machines.

Family-owned JCB was one of the most prominent businesses to back Britain leaving the European Union. Chairman Anthony Bamford wrote to the group’s 6,500 employees ahead of the 2016 referendum to explain why Britain would be better off after Brexit.

JCB chief executive Graeme Macdonald said the new factory would boost the company’s efficiency when it opens in 2019.

“The investment is one of the biggest in the company’s history and underlines our commitment to manufacturing in Britain and in our home county of Staffordshire,” he added.

Reporting by Sarah Young; editing by Stephen Addison

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