Pryme Group to open facility and create jobs

Posted on 07 Feb 2018 and read 515 times
Pryme Group to open facility and create jobs Dundee-based Pryme Group (www.prymegroup.co.uk), which offers a one-stop turn-key global contract manufacturing service — combining high-quality machining with design capability, project management, hydraulic services, fabrication skills, assembly and testing — has announced the creation of a new engineering services division, following an initial £9.5 million investment that will see dozens of jobs created at a new ‘state of the art’ facility in North Tyneside.

The new division amalgamates three group companies — MKW Total Engineering, Stargate Precision Engineering and TME Hydraulics — that were located in nearby Ryton, Tyne and Wear.

The company, which is majority-owned by Simmons and Co International’s private equity fund, provides integrated manufacturing solutions to the oil and gas, defence and aerospace industries.

It has developed the new facility with support from both private-sector and public-sector organisations, including North Tyneside Council.

Additional grant funding of £1.35 million was provided by the North East Local Enterprise Partnership, through the Local Growth Deal.

Located at the Tyne Tunnel Estate, North Shields, work is well under way to ensure that the new facility on a 58,000ft2 site is fully operational by the middle of 2018.

The Pryme Group has signed an initial 10-year lease, with the option of a five-year extension.

The company, whichis spending around £3.5 million on CNC machines and other new equipment, expects to double its current workforce to more than 150 in the next five years — with at least 20 new people be added by the end of next year.

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