A Dundee headquartered manufacturing group is expanding its footprint with the creation of a new engineering services division on Tyneside.
West Pitkerro Industrial Estate-based Pryme Group has worked with private-sector and public-sector organisations including North Tyneside Council to develop a new 58,000ft2 state-of-the-art workshop at Tyne Tunnel Estate in North Shields.
The new facility will be up and running by the summer, with Pryme taking out a 10-year tenant lease on the building with an option for a further five years.
Three Pryme group companies – MKW Total Engineering, Stargate Precision Engineering and TME Hydraulics – have been amalgamated and will operate out of the new facility under a single banner.
“The move to Tyne Tunnel Estate creates a unique opportunity to bring together the combined talent and expertise of the distinct Pryme companies under one roof,” Pryme group chief executive Angus Gray said.
“We anticipate that the site will be up and running by mid-2018 and look forward to the opportunities the new, state-of-the-art facility presents clients, staff and suppliers.
“We would like to pay tribute to North Tyneside Council and, in particular the North East LEP and UK Land Estates, for their investment and support in making this process as smooth as possible.
“I am confident that our increased presence in the Tyneside area will create room for further growth and provide a welcome boost to the local economy as we embark upon this exciting new chapter.”
UK Land Estates speculatively built Pryme’s new unit at a cost of £4.5m after the development attracted £1.35m grant funding through the UK Government’s Local Growth Deal scheme.
Managing director Keith Taylor said: “We are extremely pleased to have been able to attract an occupier of Pryme Group’s standing as we continue our investment programme across our core estates.”
Pryme Group currently employs around 225 people in total. The group expects to increase turnover by more than 20% to north of £18m in the currrent financial year to April.