A PLUMBERS merchants is making a £3m investment to tackle the recession head on.

Bosses at Burnley-based James Hargreaves (Plumbers Merchants) Ltd are making the cash injection to safeguard the long-term future of the business.

James Hargreaves has units in Accrington, Blackburn, Burnley, Clitheroe, Rawtenstall and Bamber Bridge, as well as others across the North of England.

The changes include a major re-branding of the firm, which will see the company split into three clear areas – James Hargreaves Bathrooms, James Hargreaves Plumbing, and James Hargreaves Renewables.

The company is also investing in a new warehouse and administration facility at its main site in Burnley, and there are plans to install a new computer and telephone system.

Gordon Rothwell, the managing director of Ja-mes Hargreaves, is now confident that the strategy will enable the company to emerge in a strong position.

Mr Rothwell said: “With the economy in tatters we have developed a strategy to see us through the worst trading conditions in recent memory.

“Our competitors are all in a state of meltdown, rushing to decrease stocks, lay off staff and generally reduce costs no matter what, with little thought for the future.

“We have decided that the best form of defence is attack.

“Due to the financial strength of the business, we are able to re-invest approximately £3m of the retained company profits in six key areas of the business.

“The next 12 months will, without a doubt, see a short-term deterioration in the profitability of the business.

“However, the investments we are making now will give us a payback over the next 10 to 20 years.

“And itwill also position us to be quickest out of the blocks come the end of the recession.

“We are planning for the future rather than being distracted by the all-too-compelling obsession with the present.”