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Medical firm's job plans
11:29am Monday 23rd June 2014 in Business
A MEDICAL industry parts maker aims to create North-East jobs in an expansion.
Classic Industries Europe, in Middleton-in-Teesdale, County Durham, is adding to its factory to carry out more work.
Bosses also want to increase its anticipated £4.5m turnover.
The firm designs and make injection-moulded components, employing more than 50 North-East workers.
It has received support from Barclays to embark on its growth plans.
John Pearson, Classic Industries’ chief operating officer, said: “We’ve outgrown our premises, so we’re expanding and anticipate a 25 per cent increase in turnover over the next two years.
“Barclays has been instrumental in our growth plans and the expansion will enable us to increase production and provide an additional 4,000sq ft for storage.”
Mike Wicks, Barclays’ senior business banking manager, added: “This is a global operator with a fantastic reputation in the medical and pharmaceutical sector.
It’s great to see it expanding its UK operations in the heart of the North-East and creating jobs.”