Advanced Handling, based on the Northfields Industrial Estate in Market Deeping, held an open day for customers to tour the manufacturing facility and see technical presentations and product demonstrations.
Market Deeping mayor Pauline Redshaw was among the visitors.
Customers were invited to see a giant Scalextric track and hog roast provided by Grasmere Farm.
The significance of the track was to tie in the celebrations with an event which happened in 1978, the year Advanced Handling was founded, when James Hunt secured the winning podium spot at the European Grand Prix.
Advanced Handling manufactures pallet trucks and cranes, as well as offering bespoke designs.
It works with global organisations including Tesco and Coca-Cola, as well as local companies.
Coun Redshaw said: "It is great to see how the firm has evolved over the years and all the different products it is making. The company is doing a grand job.
"Companies that put Market Deeping on the map give us an immense pleasure, and we are very grateful to all the businesses for the exposure."
Managing director Mike Prince said: "The open day was a success. It gave us a chance to meet our customers and for them to see Advanced Handling behind the scenes. I was very proud to commemorate this landmark achieve-ment with such a great day that both our staff and customers could enjoy."