AN injection moulding company aims to create new jobs after buying a factory to maintain its growth.

Icon Plastics has taken on the 10,000sq ft site in a £600,000 development.

Bosses say the move provides much-needed breathing space and removes the threat of having to walk away from potential contracts due to a lack of space.

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They also revealed intentions to recruit further fulltime workers and apprentices to support its development.

The expansion comes after The Northern Echo reported in February that Icon, based in Eaglescliffe, near Stockton, had started work on a warehouse expansion to meet rising demand.

However, bosses say their new venture will bolster manufacturing and technical assembly work and complement a neighbouring 36,000sq ft plant on Durham Lane Industrial Park.

The company, which employs 60 full-time workers, supplies components and assemblies for the automotive, agricultural, construction, electronics and telecoms sectors, and Gareth Thomas, managing director, said the new factory will help the business build on consistent growth of 20 per cent year-on-year.

He said: “We are seeing positive growth and are very confident about the expansion.

“We have about two acres of space at our current site, but it was beginning to feel cramped, which raised the very real prospect of having to walk away from further contracts.

“The new site will remove such fears, giving us space to expand our operation, take on new clients and strengthen the company’s position in the market as we look to grow the business into the future.”