CTC Marine on the rise in this year’s Top 200
A DARLINGTON subsea trenching company has emerged as one of the North-east’s rising stars in a regionwide champions league of big business.
CTC Marine has soared a massive 82 places to 38 in this year’s Top 200, compiled by the Evening Gazette’s sister paper The Journal and Durham Business School, making it the third highest climbing company on Teesside. Altogether 25 Teesside companies jumped up 20 places or more.
The annual league table ranks the region’s biggest hitters according to their latest publicly announced turnover, which is considered a better indication of growth and success than profit. To qualify, companies had to have their registered office or a decision-making management with direct financial powers based in the North-east.
Darlington engineering and services firm Amec topped the Tees Valley companies in the annual league, retaining third place for another year. The company reported a yearly turnover of £2.54bn in 2010.
Bus operator Arriva, which employs more than 40,000 people across the UK including the Tees Valley, topped the North-east league with a reported yearly turnover of £3.14bn, up from £3bn in 2009.
In total 57 Tees Valley firms made it into this year’s Top 200.
Major project wins for CTC Marine, such as the £7m Wave Hub tidal power prototype and the BARD Offshore Wind 1 scheme, have aided the company’s meteoric rise up the league table - while helping put the Tees Valley on the renewable energy map.
The company, which is a member of Trico Marine Group, reported a turnover of £146.9m, up from £109.2m in 2009, and was also Export Award winner at this year’s North East Business Awards in May.
Dean of Durham Business School, Rob Dixon, said: "The Journal Top 200 is a true celebration of the North-east’s most successful and dynamic companies.
"During the last 12 months, business has had to operate in an uncertain financial climate and adapt to a new era of cost cutting and budget tightening.
"With this in mind, it becomes increasingly important to mark the achievements of local companies that are succeeding in spite of the current global financial crisis and continue to rise to meet the challenges it presents."
Sarah Green, CBI North-east director, said: "Congratulations to our Top 200 businesses.
"As the drivers of growth in a regional economy now facing significant threat from public sector cuts, they bear the responsibility of creating jobs and growth to ensure the North-east bounces back from last year’s recession."
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