TECHNOLOGY firm bosses have moved to ease workers’ job fears after embarking on a £45.8m takeover of a North-East operator.

TT Electronics’ officials say they want to take advantage of the “skills and experience” of Stadium Group’s workforce after agreeing a deal for the Hartlepool business.

Bosses yesterday said they aim to protect Stadium’s workforce, which extends beyond the 100-mark in the North-East and stretches across further UK sites, with job cuts planned to be less than three per cent, of which some are earmarked for US operations.

Confirming a full review will be carried out into Stadium’s businesses, TT, which has a base on the outskirts of Bedlington, Northumberland, added the takeover will mean a previously announced plan to expand Stadium’s sales footprint in America will be shelved.

The Northern Echo understands the deal could be completed by mid-summer, with TT saying it will bolster its presence in the medical, aerospace and defence sectors, improve research and development work and bring products more quickly to market.

Stadium, known for designing and making vehicle control panels, wireless devices and electronic displays, such as vehicle fleet tracking apparatus, said the combined business will “broaden opportunities for our people, customers and products.”

Richard Tyson, TT chief executive, said: “The board recognises that to achieve the expected benefits of the transaction, some operational and administrative restructuring of Stadium will be required.

“No proposals have yet to be finalised (but) TT expects overall job reductions related to the current Stadium workforce of less than three per cent.

"We attach great importance to the skills and experience of the existing operational management and employees of Stadium and believe they will benefit from enhanced opportunities within the combined business.”

Stadium, which was founded as a motorcycle helmet company, has been transformed in recent years from a solely electronic manufacturing services operator to a design-led business, with black box systems for insurers to assess drivers’ safety part of its repertoire.

It has also pumped around £2m into its Hartlepool site over the last two years to create what officials describe as a European manufacturing centre of excellence.

Speaking about the TT deal, Nick Brayshaw, chairman, said: “We believe the offer from TT represents an attractive and certain value and that the combined business provides considerable scope for accelerating the development of Stadium’s strategy.”

Stadium last year revealed a £2.8m deal to take on the business and assets of PowerPax UK, known for battery chargers and LED products.

That agreement followed a £750,000 deal for Cable Power Limited, also bought to add value to Stadium’s power division, and a move for power supply unit and transformer maker Stontronics.