8/7/2012 6:54 AM
Esterline Engineered Materials’ Darchem Engineering in its Stillington manufacturing facility in Stockton-on-Tees, (NYSE: ESL www.esterline.com/engineeredmaterials), a leading manufacturer of high quality, specialty metal fabrications, fire protection and insulation products for the aerospace, nuclear, defense, oil and gas and automotive industries has announced it is investing £8M on its Stillington manufacturing base. This investment is supported by £1M grant from the UK Government's - Regional Growth Fund and is creating 86 new highly skilled posts. Demand for its precision products has been so great that the additional manufacturing facility is needed for the growing market of large scale nuclear fabrications.
Work will start on the 57,000 sq. ft. factory at the end of 2012 on a brownfield site next to its main factory, and completion is due by late 2013.
Graham Payne, Managing Director, Darchem Engineering said: "The potential in a range of sectors is excellent for us at present. We have already won a multi-million pound contract to supply a precision engineered product to support the nuclear sector and there is the possibility of us adding even more substantial orders. We have decided to expand our business base here as the local authority and Tees Valley Unlimited (TVU) have very pro-business attitudes. The local workforce is highly skilled and has a good work ethic which helps us to achieve our potential. "
Darchem's regional growth fund bid demonstrated the company's world class expertise and higher levels of productivity, and to be starting work on a new facility so soon after the bid was approved further underlines their ambition, strength and dedication to the area.
Deputy Prime Minister, Nick Clegg said: "86 new jobs is excellent news for Stockton. This £1 million investment in Darchem's plant in the town is precisely why we set up the Regional Growth Fund - to unlock the private sector funding that creates jobs and boosts local economic growth. At least £5 of private sector cash is put in for every £1 of public money; letting businesses in the North East like Darchem thrive."