Precision plans to alter the layout of the factory and the way its fridge units are manufactured, in order to meet rising customer demand.

Nick Williams, managing director of Precision, said: “Thanks to the hard work of all of our staff and partners, we have grown through difficult market conditions and uncertain global times. We have seen our sales increase by 25 percent year-on-year over the last 10 years, and we forecast this increase to continue going forward.”

Mr Williams also announced plans for the firm to bolster its factory workforce by an additional 30 percent.

Precision’s factory is based in Thetford, Norfolk, manufacturing commercial refrigeration equipment for the global catering market.