Coventry-based Marrill Group Ltd took over the Stadco factory after the Government bought the site earlier this month.
Its future has been in jeopardy since the former Shropshire-based automobile parts company Stadco announced in October it was leaving the town. Without the takeover more than 100 jobs would have been lost.
Llanfyllin's mayor Councillor Peter Lewis welcomed the Marrill company to the town for a visit to the site and was told by plant manager Neil Davies that the company was already taking on more staff.
He said: "The factory is the largest employer in Llanfyllin, and Marrill is already recruiting more staff, due to the extra work it has taken on.
"Marrill is committed to the future of the Llanfyllin site with all new investment in the installation of the largest press in the UK coming from Spain."
The company specialises in high volume metal pressings and assemblies, servicing the automotive, off-highway, aerospace and construction industries.
Councillor Lewis said he had been assured that the new press worked on a slow squeeze mechanism rather than the thump of existing presses.
"Residents have spoken to me about the noise from the site and Neil Davies put everyone’s concerns at ease when he explained the process of the slow squeeze mechanism," he said.
The press delivery is expected early May 2022, and will be delivered ‘bit’ by ‘bit’ and all stored on Marrill premises and due to be completed mid-June.
"I would like to congratulate Marrill (Powys) Ltd for the investment into our town and local factory, and for the visit and answering local questions – this is a big investment for our town and we are pleased to see a new investment drive to ensure our small-town factory survives."