Managing director Tim Andrews said the company had bought an HP LX800 Latex machine and was weighing up its options with vendors on a dye sublimation printer to complement its HP and Nur roll to roll machines, and Seiko and EFI Vutek devices.
The move will enable it to produce high quality, environmentally friendly print for interior work and soft signage, building on its core competencies of superwide print work and fabrication for signage such as built-up letters and LED work.
The plan also involves hiring a further 10 staff, which will push employees to 60 - all part of a plan to increase turnover from £5m to £10m in four years.
"We've worked hard to diversify and break into new market sectors," said Andrews. "All that effort and investment is now beginning to pay dividends. We are winning contracts in new sectors that are providing us with exciting opportunities to develop and grow our business.
"It's great to be in a position where we are winning more work which means we need to recruit new members to our team, providing work for talented and skilled people."
The business counts Westfield shopping centre as well as blue-chip brands such as Virgin, Debenhams and Next among its clients.
Hollywood Monster focuses on retail with recruitment drive and kit investment
Birmingham-based Hollywood Monster is branching into the retail market after an expansion spend of 500,000.