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Nifco UK, in Eaglescliffe, near Stockton, wants to lift turnover to £75m by 2016
A CAR parts maker hopes to create jobs after unveiling plans to increase turnover.
Nifco UK, based in Eaglescliffe, near Stockton, aims to add £17m to its £58m order book this year to lift turnover to £75m by 2016.
The firm, which employs about 400 workers, makes plastic components from door handles to bumper brackets for Sunderland-based Nissan, Ford and Honda.
Last year, the company started work on expanding its factory to include a research and development centre and provide extra manufacturing space.
Mike Matthews, Nifco UK managing director and European operations officer, said the firm was looking to enter new markets in the next two years and wanted it to become a £100m business.
He said: “We have enjoyed several years of significant sales growth and we believe that is only the beginning.
“Our order books are full for the next five years, and having only moved into our current factory in 2012, we are already at capacity and preparing to add to our floor space when our second phase factory opens in April.
“I genuinely believe we can keep strengthening and creating and sustaining more jobs and it’s our aspiration to turn Nifco UK into a £100m business over the coming years.
“I'm also sure we can create many more jobs if things go as we hope they will.
“Our move to the new factory was the impetus we needed to grow, and is a reminder that with investment, it is possible to really unlock a business’ potential.”
Last week, Nifco revealed a partnership with Teesside University to work on skills, innovation and research and development.