CHELMSFORD has received a boost to its economy with the relocation of a Basildon company.

Visteon Engineering Services - whose sister company Visteon UK went into administration in March with the loss of 170 jobs - is moving to a new 32,000 square foot building at Chelmsford Business Park.

All 370 existing employees from the Endeavour Drive building in Basildon will move and there are no planned redundancies.

The move takes place on Monday.

“We are looking forward to move into this modern, new facility which is ideally suited for Visteon’s business requirements”, said Bob Swanston, managing director VES and global director engineering services.

“We had excess capacity at our previous offices and the Chelmsford location enables us to maintain our base in South East Essex offering convenient access to our customers and business partners”.

The move follows a difficult period for VES’s sister company Visteon UK which went into administration with the loss of 170 jobs.

It closed its car parts production factory in Christopher Martin Road, Basildon.

This led to protests by workers at the Basildon factory.

“We are looking forward to becoming a part of the local business community in Chelmsford”, said Steve Meszaros, VES chairman and president of the electronics product group.

“Although Visteon is operating in a challenging business environment, we feel positive about the future and the opportunities offered by Chelmsford to our business and employees.”

The new premises will also be the base for Visteon’s European corporate leadership team, which has overall management responsibility for Visteon’s European subsidiaries.

The building is at Springfield Lyons Approach and will be named Visteon European Corporate Office & UK Innovation Centre.

Neil Gulliver, Chelmsford Council’s cabinet member for planning and development, said of the news: “It is great news for Chelmsford and shows the strength of the economy here.

“It is important that we continue to attract other companies here in the future.”