A DERBY engineering firm has invested a seven-figure sum relocating to a site in Osmaston Park Road.

Excel Process Systems is the third company to move to a 10,000 sq ft unit at the new-build industrial development called Exchange Point.

Formerly based in Sinfin, the company specialises in producing pipework and vessels for the brewing, food, consumer goods and pharmaceutical industries.

This week will see three giant vessels leave the premises, the first to be manufactured at the company's new base.

The storage tanks hold a combined capacity of 240,000 litres are due for delivery next week.

They are part of a £1m contract for Excel to supply nine solvent storage vessels to a manufacturer of varnishes and wood stains.

Managing director Geoff Field said: "At our two workshops we were bursting at the seams, the new unit will allow us to take on more people and bigger projects."

Excel is one of three companies that have made Exchange Point their home.

National firm Tile Giant and Derby business Carpet Barn have moved into the two remaining 6,500 sq ft units.

The hat-trick of deals completed at Exchange Point means the scheme is fully occupied.

They were negotiated by Marc Ballard at property agent Salloway on behalf of developer Ramheath Properties, a subsidiary of supermarket giant Sainsbury's.

Mr Ballard said: "Considering that the scheme had to be built as a planning obligation, I'm really pleased that all three units are occupied.

"In the case of Excel, there was not really anywhere else suitable they could go and the other units achieved good trade counter rents in a difficult market," he said.

Tile Giant has invested around £100,000 and employs three full-time and two part-time staff at its premises at Exchange Point.

It will have a trade counter offering ceramic floor and wall tiles.

The Derby store is part of an extensive nationwide expansion programme for the business which is part of the Travis Perkins Group.

Aqleem Khokhar, who is responsible for securing properties for Tile Giant, said: "This is our first outlet in Derby.

"It is a very good location, next to B&Q and close to Ascot Drive.

"There's a lot happening in Derby and depending on how Tile Giant performs here, we could set up at another site here in the near future," said Mr Khokhar.

The other 6,500 sq ft unit at Exchange Point is now occupied by Derby business Carpet Barn.

It has invested around £100,000 in the new venture and employs four people at the site.

The business was set up 10 years ago by managing director Mark Andrew but had a big setback in 2003.

Mr Andrew said: "Our shop in Stenson Road suffered £100,000 of damage when a fire gutted the premises next door.

"After that we operated as a flooring contractors for about six years before looking to get back into retailing.

"Looking for the right premises in Derby we found Exchange Point which will allow us to get back to the original side of the business," said Mr Andrew.

The plan for Carpet Barn is to grow the business in other areas by opening in Burton and the surrounding areas.