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Sifam Fibre Optics is creating 20 new jobs at its telecoms components factory in Torquay, having won a number of new contracts.

Sifam Fibre Optics is planning to create 40 new jobs at its Torquay factory over the next six months.

Sifam Fibre Optics has undergone a £2.5m management buy-out backed by HSBC Bank and JDS Uniphase, securing the future of 43 jobs in South Devon.

Sifam has announced plans to create a further 100 jobs at its fibre optics business in Torbay, by setting up a new factory at the former Devonshire Press site.

Sifam is to expand its fibre optics factory in Torquay and build a new plant in Plymouth, creating 1,000 jobs over the next year.

Sifam is to create a further 200 jobs at its electronics business in Torquay, following its £60m acquisition by JDS Uniphase.

Sifam has sold its Torquay-based plastic trade moulding division to a management team for £2.4m.