£50 million Ford deal for Teesside-based car parts manufacturer
Teesside-based car parts manufacturer Nifco UK has announced that it has won its largest ever contract today.
The Eaglescliffe plastics manufacturer, which produces parts used in car engines and interiors, has revealed that it has won a contract that could be worth as much as £50million with automotive giant Ford.
Nifco was awarded the multi-year deal following a competitive tender process that saw the firm go head-to-head against companies from the UK and around the world.
The contract will see Nifco produce a complex thermostatic control assembly for a next generation Ford low CO2 engine.
Work will start immediately with engineers from Nifco working with Ford’s product development teams.
It is expected the new deal will secure up to 50 new jobs for the region, added to the 295 jobs that will have been maintained and secured since 2012.
Mike Matthews, managing director and European operations officer, said that the contract was a hugely significant win for the company.
He said: “We are absolutely delighted to have won this contract with Ford.
“The scope and size of the deal is unprecedented, and is made even more significant by the fact we have managed to displace competitors from right around the world.
“It is further proof of just how far Nifco has come, and the way in which the close relationships we build with our clients are helping us to better understand their business and the ways in which we can support them.
“The jobs this will secure and the impact it will have locally is such a boost, and we’re thrilled to have been chosen to deliver it.”
The contract is another positive boost for the company, which has an order book that is full for the next five years.
Chancellor of the Exchequer George Osborne said: “Our long term economic plan for the North East is all about building on the area’s strengths like manufacturing and backing businesses that are growing and creating jobs.
“Nifco’s continued success along with its new contract with Ford, is fantastic news for the North East”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular North East morning email for free.