Northumberland manufacturer creates new jobs following market expansion
Concrete product manufacturer Lynx Precast will create 10 new jobs as it expands its product range into a growing market earlier than expected.
Thanks to a £170k grant from North East Rural Growth Network (NERGN) funded by North East Local Enterprise Partnership (LEP), the Ashington-based firm has been able to create skilled five full-time jobs, with plans to create five more by the end of 2019.
Based at Lynefield Park, Lynx Precast specialises in pre-stressed concrete products, and hopes to become a nationwide supplier of large-scale concrete manufacturing services.
Lynx Precast Director Andy Teasdale explained: “The market is huge; this investment means that we will be able to access large-scale infrastructure projects including highways and rail, not just regionally but nationally.
“It will open up a lot of opportunities in different market sectors and help us diversify and reduce our reliance on construction and housebuilding.”
The firm worked with local investment service Advance Northumberland to identify and apply for the rural funding opportunity with NERGN.
Gary Roe, Advance Northumberland business growth and investment manager added: “Investment in this vital capital plant and equipment will mean Lynx Precast has the financial opportunity to expand or diversify into new markets faster than planned, stimulating job creation with 10 new jobs for local people, which is great news.”
The UK is set to leave the EU on 31 October 2019. Are you preparing for Brexit? Complete the North East Growth Hub and Tees Valley Business Compass’ 3-minute survey →