ADVANCED engineering firm Versarien is set to expand after floating on the Stock Market last week.

The group raised a total of £3 million pounds before expenses after floating its shares on the Alternative Investment Market (AIM) of the London Stock Exchange.

This allowed them to buy Total Carbide, a Buckinghamshire-based manufacturing firm for £2.28 million.

Neill Ricketts, Versarien's chief executive, said: "The buy is a fast track for Versarien. It now means we have the extra resources, kit and people to deal with the big companies."

"We are a company that has gone from having three employees to close to 50 in a very short space of time."

"We will always have our headquarters and research and development here in the Forest. We hope to expand and take on more local workers."

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