Express Engineering expanding fast
A thriving North East engineering company is creating 40 new jobs as part of an ambitious £3.2 million expansion plan.
With its existing 40,000 square foot Team Valley site already operating to capacity, Express Engineering has taken on an additional 18,000 square feet of manufacturing floor space.
The new facility, together with a £550,000 Selective Finance for Investment (SFI) grant from regional development agency One North East, will allow the company to invest in latest technology machinery, including large vertical lathes, horizontal machining centres, five axis machines and automated welding machines.
This investment will increase the capacity of the company and enable Express to produce larger, more complex precision components, increasing turnover by 50% over the next three years.
Having already extended its apprenticeship programme with four new recruits added this year, this new investment is likely to create a further 40 jobs over the coming 18 - 24 months.
One of the UK’s leading contract manufacturing companies, providing high precision-machined components and assemblies to international clients in the aerospace, defence and oil and gas sectors, Express Engineering is confident it will secure more contracts in these areas, as well as develop opportunities in other markets, including the region’s renewable energy potential.
Managing Director, Nigel Davison, said: “This is a very exciting time for us which heralds a new age of growth for the company. We have enjoyed an extremely successful couple of years and despite the recent downturn in some sectors we have a busy order book, stretching well into 2009. Whilst we cannot be complacent, we are cautiously optimistic about the immediate to mid term future.
“The manufacturing sector is hugely important to the economy of the North East and thanks to the skill and dedication of our workforce, there is strong demand for the high integrity products we supply. As a forward-thinking engineering firm we want to ensure that we’re in the best possible position to capitalise on this demand, creating new job opportunities and long term security for employees and shareholders alike.
“We are grateful to One North East and chartered accountants unw LLP for their advice. Without their support and assistance, an expansion of this scale would not have been possible.”
Ken Samson, Business Finance Manager at One North East, said: “It’s very encouraging that quality firms such as Express Engineering are investing in their future in the region.
“One North East is pleased to be able to support the company during this difficult economic time as it strives to take advantage of new opportunities in sectors such as new and renewable energy.”
Express Engineering recently celebrated two new contracts to supply high integrity components and assemblies to the offshore industry worth a combined £4 million plus over the next two years. But it’s not just in the oil and gas sector that the company has been enjoying success. Other key business industries include aerospace, defence and power generation.
Mark Simpson, Corporate Finance Manager at unw LLP, said: “It is encouraging to see the success already achieved at Express Engineering and it was a pleasure to work with the management team to finalise this grant. We’re always delighted to offer advice and support to North East businesses such as Express.
“Securing funding from One North East means that the company will continue to go from strength to strength in its specialist fields and it is fantastic to have such a successful precision engineering company based here in the North East.”
