Concurrent Technologies Expands Capacity Despite Planning Delays; Shares Gain

Concurrent Technologies (AIM: CNC) saw its shares edge around 1.1% higher Tuesday morning after the company announced a revised plan to expand its headquarters and manufacturing facilities in Colchester.

The move comes after significant delays in obtaining planning consent for a previously announced relocation.

Instead of moving to a new property, Concurrent has opted for a lower-cost alternative: leasing additional office space adjacent to its current site. This strategic shift aims to accelerate the company's capacity expansion timeline and address growing customer demand.

The company has agreed to a 10-year lease for approximately 14,800 square feet of office space. This will allow office-based staff to relocate, freeing up the existing 19,000 square feet at the current site for reconfiguration and expansion of manufacturing capacity. Concurrent has also secured a new 10-year lease for its current site, ensuring long-term production capabilities.

In addition to the real estate adjustments, Concurrent will proceed with its planned investment in new machinery to double PCB assembly capacity. The company anticipates completing the upgrade of the current facility and the move into the new office building in the first half of 2026.

Headline Numbers:

• Office Space: Lease for 14,800 sq ft of new office space.
• Lease Term: 10-year leases secured for both new and existing facilities.
• Manufacturing Capacity: Doubling of PCB assembly capacity through new machinery investment.
• Relocation Completion: Expected in H1 2026.

This plan addresses the immediate need for increased production capabilities while mitigating the risk associated with prolonged planning delays. The dual approach of expanding office space and upgrading existing facilities is expected to enhance efficiency and streamline operations.

CEO Miles Adcock stated, “We are confident that this new plan…puts us in a stronger position to meet growing demand. By relocating office-based teams into high-quality space next door, we can quickly expand our factory footprint and invest in the additional capacity needed to support our growth.”