AN historic foundry operator’s plans to leave a Weardale town could be a trigger for increased economic uncertainty across County Durham, it has been claimed.

Bonds is considering quitting Tow Law, where it once made cannonballs for the British Army during the Crimean War, after Brexit worries compounded oil and gas difficulties.

However, Councillor John Hart says he fears the move could set a precedent, as other companies reassess their futures after the EU referendum.

Councillor Hart, who represents Tow Law on Durham County Council, is today due to ask authority bosses of their intentions to help firms in the region, saying he also wants assurances Bonds’ staff will be offered support.

He is also due to meet Bonds’ chairman, Paul Duncan, later this week to discuss the company’s plans.

He said: “I know all members will share my concern at plans to cease production in Tow Law.

“This would end more than 150 years of large scale metalwork in the town – something the company were very clear would be the likely outcome of a vote to leave the EU in June’s referendum.

“This could be the start of an uncertain economic period for Durham and the wider region.”

The Northern Echo last week revealed Bonds’ proposals, which could see it switch from two sites in Tow Law to a larger, existing base in nearby Crook.

Bosses said the company’s 112-strong workforce have been informed of the plans, with consultation now underway.

No numbers of potential redundancies have yet been revealed.

The Northern Echo understands Bonds’ Crook base is around twice the size of its Tow Law presence, which dates back to the 1860s, and it is believed significant investment would be needed to improve the latter, particularly its Ironworks Road site, which is surrounded by houses and sits next to Tow Law Town’s football ground.

However, Mr Duncan, who last week revealed BondsHold Limited, which operates the Bonds businesses, had bought a 22-acre Scunthorpe foundry site, said it was reacting to market pressures.

He added: “The UK foundry sector is still of strategic importance to many UK and overseas manufacturers of equipment used in utility, industrial and marine developments. “These developments will make the Bonds group stronger to help overcome the ongoing market challenges and leave us better placed for the future.”

Known for making pump casings and valves for the offshore industry, Bonds has supported the North Sea sector for decades.

However, its history goes much further, back to the Crimean War, while it has also repaired Royal Navy anchors.

The company’s Tow Law North works oversee finishing and quality control of products up to 12,000kg, while its South works carry out moulding and casting work.

Its Crook site, converted from a former fridge factory, caters for medium-sized castings from 50kg to 2,500kg.

Bonds’ plans were revealed on the same day tank track maker, Cook Defence Systems, in Stanhope, County Durham, confirmed 19 job losses after falling mining sector demand.