Country Durham manufacturer Filtronic is planning to create dozens of jobs after securing £150,000 to help it expand.
Filtronic, which makes antennas and filters for the telecoms market, has received the grant from the County Durham Growth Fund, which will allow the company to bolster its manufacturing and testing facilities, as well as create around 36 new jobs.
Filtronic is based on NETPark, in Sedgefield, and has recently invested £1m in its expansion.
The investment saw the firm install machinery at the Sedgefield site that will allow it to double capacity and improve its product yields. The investment has been supported by the Growth Fund.
Michael Tyerman, Filtronic’s chief financial officer, said: “The way we communicate is changing dramatically and with the increased growth in traffic expected from 5G, network capacity has to be improved.
“In order to address this challenge, we have invested significant R&D activity in developing a number of E-band products which can deliver high performance at a competitive cost, which have understandably attracted interest from a number of potential new customers.
“Now, thanks to our own capital investment and the fantastic support we’ve had from the County Durham Growth Fund, we have been able to expand our manufacturing and testing facilities, allowing us to produce in larger quantities which will enable us to win work with other companies, accelerating our plans for growth.”
In August Filtronic said it was planning for “uncertainty” because of Brexit and the impact Covid-19 had had on its customers. At the same time, the company posted an 8% increase in it full year revenues.
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However, it made a pre-tax loss of £400,000, compared to a £100,000 profit during the previous year.
The County Durham Growth Fund is overseen by Business Durham, the economic development arm of Durham County Council. It is an £8.9m scheme that provides funding to SMEs across the county.
Sarah Slaven, interim managing director of Business Durham, said: “The support we have given to Filtronic has not only led to the creation of new jobs and significant expansion at the company’s NETPark facility, but also demonstrates the diversity of the fund to support companies across a broad range of sectors in our area.”
Coun Carl Marshall, Durham County Council’s cabinet member for economic regeneration, said: “We are pleased to be able to support Filtronic in expanding its enterprises, allowing it to accelerate its plans for growth, keep business in County Durham, and create new jobs for the region’s people. This investment also supports our long-term ambition as a council, which is to preserve a thriving environment for businesses to grow while creating and safeguarding more and better jobs.”
The funding has been secured from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020.