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Stadium Group, in Hartlepool, aims for major contract wins after plant move
AN electronics firm, which has created more than 50 North-East jobs, says it will make its regional factory a European centre of excellence to secure major contracts.
Stadium Group, based in Hartlepool, wants to use the plant as a catalyst for expansion of its work, which includes control panels for the oil and gas industry and work with Siemens to make digital radio displays for train cabs and printed circuit boards.
The firm has closed its sister factory in Rugby, Warwickshire, with bosses moving its integrated electronic manufacturing services division to Hartlepool, where it now employs 166 workers.
The company says the move could save £1m a year and will lift turnover by more than ten per cent, with an extra 55 staff, including 24 full-time workers, now based at Hartlepool.
The company yesterday revealed its half-year results to June 30, which showed revenues had increased to £21.44m from £20.93m in the same period last year, and the firm expects sales to grow in the second half of the year thanks to its strong order book through its interface and display work.
Charlie Peppiatt, who took over as chief executive from Stephen Phipson in June, said the firm had manoeuvred itself into a good position to strengthen, with its Hartlepool plant key to its hopes of attracting new contracts.
He said: “For the last couple of years, Hartlepool accounted for about 25 per cent of the group's turnover, however, that will increase to about 35 per cent and up to 40 per cent next year.
“We are building a world-class centre of excellence for the UK electronic manufacturing services.
“Rugby was probably our most technically advanced factory, but with that now closed, we have brought a lot of equipment to Hartlepool that will make it a flagship site for the North-East.
“We have also brought in Ian Davies as managing director at Hartlepool who is a high calibre appointment and brings in Premier League leadership, which is good for the business.
“The results are where we thought we would be, and in line to deliver our full-year expectations.”
Last year, the firm sold its Hong Kong office, which had been used to manage its 1,000-strong workforce at its Chinese manufacturing plant, for a £2.3m profit.
The factory is now managed in China, but Stadium has retained a small office in Hong Kong.
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