e2v investing in Chelmsford

Chelmsford-based sensor designer and manufacturer, e2v is investing a seven-figure sum in modernising its Chelmsford base, Business Weekly can exclusively reveal.Work on the Chelmsford site will start later this month and is scheduled for completion by summer 2007.

The company also has plans to relocate its Lincoln operation to a “more appropriate site”, a spokesman said, stressing that it would remain in the Lincoln area.

In a financial report, the firm said that profits rose to £3.7m from £2.8m for the previous year and sales grew 38 per cent to £67.8m. It said a strong order book of £141m gave it a strong outlook for the rest of the financial year