Group riding oil boom expects turnover to soar

Jul 3 2009 by Christopher Knox, The Journal

He said: "The new team spent a lot of time looking at how we could build a leaner business model as well as assessing a number of new markets.

"We are now living up to our potential and closing in on our ‘Olympic challenge’ of hitting a turnover of £42m in 2012 and then on to £60m as part of the next four-year programme.

"We are lucky that we are directly involved with one of the world’s few remaining booming industries and are confident of future growth."

The firm’s success was recently acknowledged at the Institution of Mechanical Engineers Manufacturing Awards, where its ability to grow during the recession earned it the Financial Management prize.

Last year, ContiTech Beattie won the Business Development and Change Management award, was highly commended in the People Development category and also won two Northumberland Business Awards and the employer of the year title in the Wansbeck Business Awards.

Mr Esson said: "The finance department has been at the heart of the transition of ContiTech Beattie from a business with no sophisticated systems to its place now as a subsidiary of a major international corporation, Continental AG.

"This award recognises the development and improvements that have taken place along the way and builds upon the recognition that has been given to ContiTech Beattie during the last two years as the business sees genuine rewards, internally and externally, as a result of the changes."