A TEESSIDE firm is unlocking the door to growth, after receiving the keys to its new £8.5m factory.

Nifco UK, a £30m turnover car parts manufacturer, has taken possession of its 130,000sq ft Eaglescliffe premises, in a move that will allow the company to increase its number of employees to 300 - almost double the size of its team this time last year.

Staff will begin a phased move from their current site, a 1967 factory at Yarm Road, in February.

The company uses plastic injection moulding to produce more than 250,000 parts a day, supplying brands including Nissan, Ford Motor Company, Jaguar Land Rover, Honda and Toyota.

Mike Matthews, managing director of Nifco, was handed the keys by building contractor Tolent Construction, and work now begins to get the office space and factory floor ready for staff moving over.

He said: “The move to the new factory represents a very significant step forward for Nifco UK.”

He added: “The move, I believe, will help secure the future of operations here in the North-east for at least the next 20 years.”

The news comes just days after Nifco UK announced it was creating 127 new jobs after securing £1.65m in Regional Growth Fund cash.

Tolent, the firm responsible for building the 4.5-acre premises has spent more than 100,000 working hours developing the site.

The development of the new premises was overseen by Wynyard Park Ltd, working with commercial property company Dodds Brown. Stockton Council also helped the firm secure funding for the site.

As well as an improved working environment for staff, the new factory will significantly reduce the company’s carbon footprint.

Naturally Wild, a Guisborough ecology consultancy, helped ensure measures were put in place to protect the natural environment in and around the site, both during the build and in the future.