Engineering firm’s £300,000 investment leads to export contract and job creation
The investment by Katmex, a steel plate processing firm, has helped it win a major contract with German firm Komatsu Hanomag.
Stockton-based Katmex, which now employs 142 workers, specialises in supplying steel processed parts and fabricated components to construction equipment manufacturers and other heavy engineering industries.
Parts supplied are mostly used in the production of excavators, dump trucks, back hoe loaders and wheeled loaders.
A percentage of the investment was dispensed by Tees Valley Business Compass, which secured money from the Regional Growth Fund (RGF) to deliver the Business Growth Investment Scheme.
Neil Kenley, Director of Business Investment at Tees Valley Unlimited, the Local Enterprise Partnership for Tees Valley, said: “Katmex is a prime example of how the Business Growth Investment Scheme can help companies unlock more potential and expand the size and scope of their activities.
“Tees Valley is recognised as a place where employers want to expand and invest and it is our role to support local businesses that want to grow and thrive here.
“Exports are important to the economic well-being of Tees Valley. By helping Katmex extend its overseas markets, this grant has achieved a great result for the area.”
The Business Growth Investment Scheme can be used to improve or expand premises, invest in research and development or to invest in new plant, equipment and machinery.
The scheme offers grant support of between £10,000 and £50,000 to companies with fewer than 250 staff who are planning an investment project.
Businesses across the five Tees Valley local authority areas, Darlington, Hartlepool, Middlesbrough, Redcar and Cleveland, and Stockton-on-Tees are eligible to apply.
Time is limited and firms wanting to take advantage of the scheme are urged to get in touch without delay.
Stuart Mitton, Katmex Finance and Administration Manager, said: “The grant has contributed towards our export drive with the overall £300,000 investment in the latest robot welding machines, equipping Katmex with the technical ability and capacity to secure a significant overseas contract.
“We also have been able to support additional employment in the area with the recruitment of 12 extra staff.”
All News
£35m Funding Streams Available
Individuals and companies affected by SSI closure directly or through the supply chain can apply for sponsored training or financial support - how to apply here
£7m funding boost for SSI Workers
Funding packages worth £7.3m have been secured by the SSI Task Force to support people who have lost their jobs as a result of the closure of SSI’s Redcar plant.
Investment secures export contract & new jobs
A TEESSIDE engineering company has invested £300,000 and created 12 jobs with the support of the Tees Valley Business Growth Investment Scheme.
National Business Support Helpline
The National Business Support Helpline provides information and guidance about all aspects of starting or running a business, as well as signposting to local sources of help.
Money available to help Tees Valley companies
£30,000 Investment Brings Superfast Broadban
Firms on the Queens Meadow Business Park in Hartlepool now have access to superfast, fibre broadband following a £30,000 investment by Hartlepool Borough Council, the Government’s Broadband Delivery UK (BDUK) programme and the Homes and Communities Agency (HCA), the owners of the business park.
Dynamites15 – The North East’s IT and
Part of Dynamo’s vision to build the North East’s enterprise IT cluster, Dynamites15 is the region’s only IT and Technology awards.
Tees Valley Business Summit
The largest business networking event of its kind in Tees Valley - packed full of potential lucrative opportunities
More jobs joy for Enterprise Zone
RICS - Delivering Successful Projects
RICS Teesside Local Association in partnership with Tees Valley Unlimited is holding a morning CPD seminar discussing the delivery of successful projects.