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Volex, the electrical cabling firm, is relocating its headquarters from Birchwood in Cheshire to Paddington in London.

Volex of Warrington is to sell its VWS wiring harness division to a management buy-out for a nominal sum.

Volex, the cables company, is looking to expand into eastern Europe, India and China, either through acquisitions or by building new plants.

Volex is acquiring the power cord division of Belden for up to £18m.

Volex has acquired a 60% stake in Telepart Industria, the Brazilian cable assembly company, for about £8m, as part of a strategy to improve service to multinational customers.

Volex has won a major contract to supply cable assemblies to Ericsson, which will lead to the creation of 100 jobs in Manchester and 100 jobs in Ireland.