The future of one of the North East ’s best known global companies has been put in doubt with reports 200 staff could be made redundant.
The jobs are at Darlington firm Cleveland Bridge, which was founded in 1877 and is known for its work on famous structures around the world including the Sydney Harbour Bridge, Wembley Stadium and Middlesbrough’s Transporter Bridge.
The company, which employs around 200 people, was recently involved in the project to upgrade the Testos roundabout on the A19 in South Tyneside but it has emerged that the company is in financial trouble and looking to find new owners.
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Cleveland Bridge - which has been part of the Saudi Arabian Al Rushaid Group since 2000 - has released a short statement saying: “A HR1 notice has been issued with regard to possible redundancies.
"This does potentially affect all employees. The company is actively taking advice and exploring a range of options.”
Politicians and business leaders in the North East have expressed hope that the historic company can be saved.
In a joint statement, Tees Valley Mayor Ben Houchen, Sedgefield MP Paul Howell and Darlington MP Peter Gibson said: “Our number one priority right now is making sure that Cleveland Bridge’s 200 members of staff, and their families, are supported at this difficult and uncertain time, and we will be working with Darlington council and Government to ensure they get whatever support they need.
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“Cleveland Bridge is a business with an amazing heritage that has been responsible for some of the world’s most iconic structures, including the Sydney Harbour Bridge and the Shard skyscraper in London. The skills of its workers are second to none and have led to the company having an enviable global reputation.
“The company has a full order book for the next 18 months, this coupled with the firm’s history, expertise and highly skilled workforce makes us optimistic that a buyer will come forward quickly for this iconic business. But it is critical that local jobs are protected as part of any deal to buy Cleveland Bridge.”
James Ramsbotham, chief executive at the North East England Chamber of Commerce, said: “We are really saddened to hear that Cleveland Bridge, a highly-regarded and long standing Chamber member, is experiencing financial challenges.
“It is our deepest hope that a strong future is found for this business and for all the people working in it.”
In April Cleveland Bridge released results for 2019 which reported a small loss despite a 30% increase in revenues to £48m.
The company highlighted issues relating to a major contract on Sri Lanka but said that it had a strong order book standing at more than £76m, with further significant 海角视频 orders expected.