Subsea specialist creates 30 new jobs in £3.5m expansion
A subsea manufacturing company has announced that it plans to create 30 new jobs in its £3.5m expansion.
Express Engineering, which is headquartered in Gateshead, will be investing and recruiting to meet further expansion in the oil and gas sector.
The international business is investing in a new £3.5m 48,000 sq ft assembly and test facility near its Gateshead headquarters in Team Valley, expecting to create another 30 posts.
In the past year, it has recruited around 100 people, following the re-appointment of the company’s former mangement team.
Chris Thompson, chairman of Express Engineering said: “Shortly after re-joining the company late in 2018 we took the decision to move away from a diversification strategy to refocus around the subsea oil and gas sector, where we made our reputation before the market collapsed in 2015.
“We’re 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 added: “We are transforming the business through an experienced management team, a new product strategy and an investment in infrastructure.
“It’s also fair to say we’re in the right place at the right time - we have the capacity and expertise to be able to respond to market demand.
“We currently have an order book of more than £40m for core products and connection systems.
“The pipeline for future business looks very strong, ensuring we continue to grow and strengthen our financial position.”
Do you want to sell more to businesses in your region? Get Bdaily Marketing's latest Media Pack now to see how we can help →