A COMPANY has embarked on a major expansion scheme as part of its drive to develop renewable energy technology.

James Hargreaves Plumbers Merchants has spent £700,000 buying the former Red Rose Plastics building adjacent to its head office in Todmorden Road, Burnley.

Earlier this year the firm entered into a potentially lucrative agreement with German heating company Wolf GMBH to develop, manufacture and supply solar panels. James Hargreaves is now considering transforming the building into a showroom for renewable technologies such as solar panels as well as creating a business park for new enterprises on the site.

Gordon Rothwell, managing director, said the company had been looking for a new site to expand for some time.

He said: "It is our biggest investment in property development since we acquired our current head office in the late 1990s and we have lots of plans up for consideration.

"We are very much at the forefront of championing moves to change the way homes of the future will generate heat, and putting a renewables centre in there is certainly one possibility.

"Due to the growth we have enjoyed in recent years we need extra storage space too and we are also eyeing up the prospect of developing part of the new area into a small business park for new enterprises.

"Over the coming weeks we will formulate a strategy and then phase two will see us start work on the refurbishment.

"That in itself is a big project and it will be some time before the place is ready for full occupation."

James Hargreaves, which also has bases in Blackburn, Accrington, Nelson, Clitheroe, Rawtenstall and Leyland was established in 1968 and has a turnover of £20million.