Officials from Japanese machine tool company Toyoda have visited Coventry to see their new European headquarters taking shape.

Toyoda - part of the Toyota and Daihatsu empire - is relocating to a purpose built complex on the Leofric Business Park, just off the Eastern by-pass.

The company, a leading machine tool manufacturer for the automotive industry, is investing more than a £1 million in the 12,000 sq ft complex and could double in size during the next few years.

They have bought the site from Coventry-based Deeley Properties, whose sister company GW Deeley Ltd is also designing and building the new headquarters, which will replace Toyoda's present base in Rugby.

Peter Deeley, of Deeley Properties, said:

"I think it is great news that such a well-known industrial name as Toyoda has opted for Coventry. Every area competes for Japanese investment and with our tradition in the engineering industry, particularly in the automotive sector, its decision will be warmly welcomed."

The announcement follows hot on the heels of Solaglas' decision to base their UK headquarters on the Leofric Business Park.

Deeley added: