A North East cable manufacturer is targetting export growth after receiving a £1.65m funding boost.

Mineral Insulated Cable Company, based in Washington is the world’s leading manufacturer of the most durable cable ever made and is one of only ten companies worldwide to produce it.

Most of its customers are in the UK, EU, North America, Japan and China, and it plans to ramp up its overseas exports further. Santander UK has supported its plans with a £1.65m international working capital facility to increase the volume it exports overseas and the number of countries it exports to.

One area of focus is growing its exports to the power generation sector - concentrated solar power in particular – as the market is currently predominantly supplied by Spanish and Chinese companies.

Mineral insulated cable is capable of operating for long periods at extremely high temperatures, during fires, and in the harshest chemical environments. It is the only fire-survivable cable on the market, offering three-hour escape time and can withstand temperatures of more than 1000 degrees Celsius.

Michael Fitzpatrick, MICC General Manager and Director, said: “The tailored international support and funding from Santander UK provides us with a high level of export concentration, which is fundamental to our continued international expansion into new markets. With Santander UK’s support, we are now looking forward to progressing our exciting growth plans.”

Laura Moorhouse at Santander said MICC "exemplifies the innovation, cutting-edge technology and skill of companies in the North East."