Monthly Archives: March 2010
New jobs created thanks to Precision Engineering
Teesside Precision Engineering Ltd will create the new jobs with the help of a £95,000 Grant for Business Investment from the regional development agency.
The company is a new start-up providing precision engineering services primarily to the offshore engineering industry and the funding will allow it to purchase equipment and establish a new base on Skippers Lane Industrial Estate.
One North East Director of Business and Industry, Ian Williams, said: “Offshore engineering continues to be a growth industry in the North East and I’m sure Teesside Precision Engineering Limited will become a successful supply chain company.
“This investment offers high quality job opportunities for skilled employees in the Tees Valley and I would like to wish the company the best of luck in this exciting new venture.”
The business has been established by three investors, David Dean, Roger Metcalfe and Russell Coates who all have extensive experience within engineering covering many industry sectors.
All three will act as directors of the new company and have moved quickly to purchase the building and some assets that used to belong to Campbell Machine Company Ltd, which went into liquidation in April 2009 following a loss of several key customers.
Teesside Precision Engineering Director, David Dean, said: “This is an excellent opportunity to utilise the highly skilled workforce that exists within the Tees Valley area. Additional investment has recently been injected into the business to purchase a further six CNC machine Tools to increase our capacity and capabilities.
“It is also our intention to participate in local apprenticeship programmes to support future labour market requirements within the industry.”
The majority of the new jobs created will be skilled machinists, supported by management and administrative support staff. The company will specialise in low to medium volume precision machined components and high volume products targeting markets like oil and gas, process industries and medical industries.