HiLo-PSS new 12,500sq m facility in Romania, centrally located in the fastest growing region of Europe, has been specifically built and equipped to provide customers with world-class manufacturing.

James Delap, the managing director of HiLo-PSS Group, said: "We chose Romania for the facility as it is in close proximity to world-class steel suppliers, has an abundance of manufacturing skills and a network of specialist suppliers providing a support infrastructure for engineering and product development.

"Our Romanian factory has enabled us to become a truly European company, challenging our competitors on pricing, response times, quality and innovation."

The investment in the development of its four hectare industrial park in Romania is bearing fruit with the company leasing a second factory unit to Picanol SA, one of the world's leading manufactures of air-jet weaving machines and associated control electronics.

With the Rasnov Industrial Park now achieving 85 per cent occupancy, with just a single 3,300 sq m unit still available for rent, HiLo-PSS is proceeding with the sale of the park for which several offers have been received of more than 15 million euros.

Mr Delap said: "The sale of our Romanian property will enable us to finance our continuing growth throughout Europe while we re-establish our service levels in the UK market."

Once the sale of the Rasnov Industrial Park is completed, HiLo-PSS will lease back its 12,000sq m factory.

Over the past two years it has invested 12 million euros to turn the facility into one of the most modern in Europe.

Now fully functional, it is supplying storage systems to both the UK and South East European markets.

"Establishing our new facility in Romania has stretched our group in all kinds of ways," said Mr Delap.

"The sale of our Romanian property portfolio is at the final stage in this process.

"It will enable the group to enter the New Year having repaid all the debt incurred from the acquisition of Planned Storage Systems and investment in Romania."