A major international company today announced ambitious plans to locate its new corporate headquarters in Rochdale.
Tetrosyl, the largest manufacturer and supplier of car care products in Europe, has acquired Newgate House in the town centre as the new office base and showroom for the Tetrosyl Group.
It is a major coup for Rochdale and will bring real benefits to the town centre.
The scheme will not only see the empty office block transformed but will bring eventually about 150 jobs into the heart of the town centre.
Council leader Richard Farnell said:"It is a tremendous vote of confidence in Rochdale and an indication of the ambition we have to transform the town.
"We look forward to welcoming the company and their employees to their new home in Rochdale."
Around 86 people are employed at the company's existing office base in Walmersley, Bury and they will be offered the opportunity to move. The Bury site, which has planning permission for housing will then be sold.
The new HQ is part of a wider reorganisation and modernisation by the company which will also see major investment and expansion of its manufacturing plant at Heap Bridge in Bury.
Peter Schofield, Group Chairman of Tetrosyl Ltd, said: "The investment we are making in new and improved premises will further accelerate our performance as the leading supplier of car care products in Europe. I am proud of the fact that Tetrosyl has its roots very firmly in Bury and the North West where we have been able to grow and develop for more than 60 years from a small business to a major international corporation."
"The opportunity to acquire Newgate House came along at a time when we had to make the decision to move and we are very pleased to have acquired the building.
"The response and support we have received from Rochdale Council and Rochdale Development Agency has been first class."
The new headquarters will provide offices as well as accommodation for the company's research and development teams and technical development and support.
There are also plans to create a major new showroom to demonstrate the company's large range of products.
Rochdale Acting Chief Executive Linda Fisher said:"I am very proud to have been part of a real team effort that helped forge this announcement. It is a very significant investment for the town and a signal that Rochdale is most definitely on the rise."
The company is expected to start moving in staff before the end of the year.