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Teesside-based ElringKlinger (GB) has set out plans to double its turnover to £26 million in the next five years, providing a huge jobs boost for the Redcar area.
The automotive parts manufacturer is investing £6 million to introduce three new auto-assembly lines and two new presses to cope with demand for its new product ranges.
Renowned for its speciality gaskets, ElringKlinger (GB) has invested a significant percentage of its profits into the R&D of new heat shielding products, which has seen its orders book take off.
In recent months the company, which has 130 staff currently, has been nominated to produce high volume sealing and shielding modules for General Motors, as well as winning business for under body heat shielding components for BMW Mini. It also counts Jaguar Land Rover, including its new UK engine facility, Lotus, Caterpillar, Ford and Bentley among its customers and has recently been involved with McLaren and Aston Martin.
To gear up for growth the company intends to create 60 jobs in the next few years and is starting with the recruitment of skilled production engineers. It is also starting its future talent pipeline with the creation of four ‘Year in Industry’ undergraduate placements and four new apprenticeships.
Ranking within the top three companies of a worldwide group of businesses that employs 5,000 people, ElringKlinger (GB) will celebrate fifty years on Teesside in 2014. Managing director Ian Malcolm commented: “We are entering an exciting phase of our company’s history with ambitious growth plans already well underway. Our new auto-assembly line arrives in the UK this month, with the majority of equipment orders being placed by the end of the year.
“Our projects pipeline is topping £30 million at the moment, all of which are high value business in highly specialised markets. Our workforce is one of the only of its kind in the UK developing heat shielding products for a modern market, which is a big growth area.
“The job opportunities for everyone from experienced engineers to young school leavers wanting an exciting career in the automotive industry are right here in Redcar,” he continued. “We’re looking forward to putting back into our community with our continued success.”