A SUCCESSFUL first two years serving the businesses on its doorstep has seen a North-East firm announce plans for a major expansion which will see it double in size.

Precision Toolroom Services and Machine Limited (PTSM) has built up an impressive client base including Cummins, Tallent, and Rothmans over the past 24-months.

Now with new businesses such as Senstronics, Ultronics and Filtronic setting up on its Newton Aycliffe doorstep, the future of PTSM is looking ever brighter.

Director Peter Thompson said: "This is a major development for the business and the help and advice we received in planning the move has proved to be invaluable.

"The speed of the development of the company has been remarkable and we hope to look towards expanding our workforce in the near future."

The company which has a current workforce of 12, was started by precision engineering experts Peter Thompson and Steve Metcalfe.

Since its inception, turnover has doubled along with its premises with an additional 1650 sq ft of floorspace being added.

When it was planning the move the company called on the advice and support of business advisers, Clive Owen & Co to co-ordinate the finance for the change of premises.

With the help of Clive Owen's corporate development team, which played a vital role in assisting PTSM with its business plan to raise finance, the firm was able to assemble cashflow forecasts to maximise the opportunities for growth.

Partner with Clive Owen, Neville Baldry said: "We have worked closely with PTSM ever since the firm was first set up, and so it is very exciting to see the company developing and expanding so soon."

PTSM is involved with the manufacture of jigs, fixtures gauges and precision parts