Gateshead-based Express Engineering, a sub-sea manufacturing specialist, is planning to build a new 48,000ft
2 assembly and test facility near its headquarters in Team Valley, which will create 30 new jobs.
The company (
www.express-engineering.co.uk) has seen its sales in the oil and gas sector grow significantly, and it has recruited about 100 people in the last 12 months, taking its workforce to more than 235.
The growth coincided with the re-appointment of a former management team that includes original owner Chris Thompson as chairman.
Mr Thompson said: “Shortly after rejoining the company late in 2018, we took the decision to move away from a diversification strategy and re-focus on the sub-sea oil and gas sector, where we made our reputation before the market collapsed in 2015.
"We are well placed to take advantage of increasing enquiry activity and order levels in a recovering oil and gas sector. Based on current projections, we see no reason why we cannot reach record revenues in two years’ time.”
Managing director Gary Thirlwell said: “We currently have an order book of more than £40 million for core products and connection systems, and the pipeline for future business looks very strong.”