REDUNDANCY-HIT Elementis Chromium is looking to turn its future around with cash from regional development agency One NorthEast.

The company, which yesterday confirmed 114 redundancies at its Teesside plant, hopes to secure funding through the agency's North-East Productivity Alliance (Nepa) programme.

Over the past three years, the Nepa scheme has helped 224 business across the region and created 113 jobs, while safeguarding a further 1,600.

Elementis, in Urlay Nook, is undergoing a restructuring programme after cost pressures forced it to make job cuts and close one of its kilns, which come into effect at the end of next month.

The firm, which will employ just 118 people from April, is in talks with One NorthEast about financial support.

A One NorthEast spokesman said: "We have spoken at length with senior management at the company in a bid to secure the plant's future at the site. Our offer to support the company remains on the table, particularly with productivity improvements through our North East Productivity Alliance programme and possible grant aid to support the business in its future activities."

At the end of October, Elementis announced plans to shed more than half its workforce and reduce capacity in order to concentrate on fewer, but more profitable, product lines.

Technical director David Raw said yesterday: "Confirmation of the redundancies has been a very difficult decision for the company.

"We firmly believe that the changes announced are an essential step to restoring the site to a position of sustained profitability and this is the best means of protecting the business in the long term.

"One area being pursued is the possibility of support for our future investment programme through One NorthEast.

"We believe that if such support were secured then this would provide important added confidence."