Olympus 'to scale heights' with £2.7 million move

An industrial and automotive parts firm is set to break ground on a £2.7 million expansion.

Olympus Global is building a warehouse and distribution hub at Newton Aycliffe, in County Durham.

Bosses say the 16,000sq ft venture marks “a new chapter in the company’s 50-plus year history” and will create up to ten jobs.

Building work – led by principal contractor Hall Construction – will officially start in early October.

Known for supplying fasteners, castings and forgings, West Midlands-headquartered Olympus Global says the new base will support existing customers, including Aycliffe-based car chassis maker Gestamp, while bolstering links to clients across the North of England and Scotland.

Designed by Sunderland-based Building Design Northern, they add the hub is expected to ship parts worth more than £7 million in its first year.

Hailing the potential of the base – which will complement a head office in Tipton, near Dudley, and Hungarian and Spanish sites – Keith Rice, Olympus Global managing director, said: “The North East provides direct access to main transport routes and proximity to the industry’s big players and cluster locations. 

“Our clients are fast-paced organisations that require the highest level of turnaround, dispatch and efficiency, so we’re delighted to be starting construction.”

Ryan Doyle, Building Design Northern director, added: “It’ll be great to start seeing our designs coming out of the ground.

“We have worked closely with Olympus Global from the start across all requirements, and our knowledge, industry insight and technical expertise across different architectural and engineering disciplines have proved critical, given the client is based outside the region.”

The announcement coincides with the launch of this year’s North East Automotive Alliance expo, which sees organisations from across the industry supply chain attend the annual Sunderland event.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.