Core firm invests in future with jobs and machinery (From The Northern Echo)

Core firm invests in future with jobs and machinery

11:30am Tuesday 24th November 2009

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A COUNTY Durham tube manufacturer is continuing to grow and create jobs despite the recession, and has invested in new machinery to increase production capacity.

Corespec Ltd, based on the Greencroft Industrial Park in Annfield Plain, manufactures heavy duty cardboard tubes or “cores” used by the paper, textile, flooring and plastic film industries.

Set up in 1998, the company is now one of the largest core manufacturers in the UK.

A £175,000 investment has now been made in new machinery at the site, which will enable it to increase capacity by more than 30 per cent to meet the demand from existing and new customers.

Five jobs have also been created meaning that the company now has 15 employees.

Brian Hodge, director at Corespec, said: “Despite the current difficult times, we are very busy.

“One of our top priorities has always been keeping up with technology and this latest piece of equipment means that we are now the most upto- date and modern manufacturer in the UK.

“Alongside our determination to provide the highest possible quality and service to our customers across the country, it seems to be helping us to weather the recession.

We have a loyal and skilled workforce here and they have backed us 100 per cent as the company has grown.”

The company has also secured a £25,000 Grant for Business Investment from regional development agency One North East and support from HSBC bank.

It has also received advice and support from the Derwentside Enterprise Agency.

Mr Hodge added: “The grant from One North East and the on-going advice from Derwentside Enterprise Agency have been invaluable.

“The agency helped us to start up and it has been there for us every step of the way since, so we could not speak more highly of the support we have received.”

Steve Armstrong, of Derwentside Enterprise Agency, said: “We have worked with Corespec since the company was formed and seen it go from strength to strength.

“From small beginnings it has taken on the UK’s major manufacturers and become one of the largest and most successful companies in its sector.

“It is one of the many successful companies making up Derwentside’s strong business base and we are confident that it will continue to do well.”

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