The firm which designs and manufactures specialist cutters for fibre optic cables, used in the internet industry, has developed a new product which could see the firm ship between five and ten times as many cutters to the USA.
The company exports around 600 of its products each year to the USA where they are used by engineers working on behalf of communications giant Verizon.
The company has been supported by the Coventry and Warwickshire Chamber of Commerce through the Coventry & Warwickshire Business Support Programme- part funded by the European Regional Development Fund (ERDF).
As part of that Programme, the Chamber has delivered one-to-one support and also assisted the business to successfully secure almost £6,000 worth of ERDF grant funding.
That money will go towards 3D printing technology and microscope equipment that will allow the firm to bring its new product to market sooner as well as taking on two extra staff in the next few weeks.
The business has also recently expanded into the Sir Frank Whittle Business Centre.
Managing director Ian Murgatroyd said: “We can see the huge potential for growth, especially in the USA where our products are already used by engineers in the industry.
“We are investing in new technology and also in creating new jobs so the support we have had and the grant funding will help us to accelerate our growth.
“I’ve been in this sector for many years now and I am very excited by the next phase of our expansion and we hope to be exporting at least 3,000 units per year, if not more than 5,000 once the new product is launched.
“That will mean skilled assembly jobs right here in Rugby – a town very well known for its engineering prowess.”
Martyne Manning, of the Coventry and Warwickshire Chamber of Commerce, added: “There is great potential here for Oxford Fiber to Go For Growth and I am delighted to be supporting the company.
“Through our Go For Growth campaign we have been highlighting some of the barriers to business expansion and, also, some of the opportunities.”