CAR parts manufacturer ElringKlinger has set out plans to double its turnover to £26m in the next five years, providing a huge jobs boost for the Redcar area.
The Teesside manufacturer is investing £6m to introduce three new auto-assembly lines and two new presses to cope with demand for its new product ranges.
Renowned for its specialty gaskets, ElringKlinger has invested a significant percentage of its profits into the research and development of new heat shielding products, which has seen its orders book take off.
In recent months the company, which has 130 staff currently, has been nominated to produce high volume sealing and shielding module for general motors, as well as winning business for under body heat shielding components for BMW Mini, making ElringKlinger the only volume producer of under body heat shielding in the UK.
To gear up for growth the company intends to create 60 jobs in the next few years, and is starting with the recruitment of highly skilled production engineers. It is also starting its future talent pipeline with the creation of four ‘Year in Industry’ undergraduate placements and four new apprenticeships.
Ranking within the top three companies of a worldwide group of businesses that employs 5,000 people, ElringKlinger will celebrate 50 years on Teesside in 2014.
Managing director Ian Malcolm, said: “We are entering an exciting phase of our company’s history with ambitious growth plans already well underway. Our new auto assembly line arrives in the UK this month, with the majority of equipment orders being placed by the end of the year.
“Our projects pipeline is topping £30m at the moment, all of which are high value business.”
In order to accelerate its plans to be the most high-tech production plant in its field, the company is looking to introduce everything from clean energies to people who work with schools on a voluntary basis to ensure it has its future clearly mapped out.