Steve Armstrong (centre) from Derwentside Enterprise at Corespec with Directors Brian Hodge (left) and Gordon Gregory
North East News
A Derwentside tube manufacturer is continuing to grow and create new jobs despite the recession and has invested £175,000 in new machinery to increase production capacity.
Corespec Ltd, based on the Greencroft Industrial Park in Annfield Plain, manufactures heavy duty cardboard tubes or ‘cores’ used by the paper, textile, flooring and plastic film industries. Set up in 1998, the company is now one of the largest core manufacturers in the UK.
The latest investment in machinery will enable it to increase capacity by more than 30% to meet the demand from existing and new customers. Five new jobs have been created and the company now has 15 employees. With advice and support from Derwentside Enterprise Agency, Corespec secured a £25,000 Grant for Business Investment from One NorthEast and support from HSBC bank.
“Despite the current difficult times, we are very busy,” said Director Brian Hodge. “One of our top priorities has always been keeping up with technology and this latest piece of equipment means that we are now the most up-to-date and modern manufacturer in the UK.
“Alongside our determination to provide the highest possible quality and service to our customers across the country, it seems to be helping us to weather the recession. We have a loyal and skilled workforce here and they have backed us 100 per cent as the company has grown.
“The grant from One NorthEast and the on-going advice from Derwentside Enterprise Agency have been invaluable. The Agency helped us to start-up and has been there for us every step of the way since so we couldn’t speak more highly of the support,” he added.
Steve Armstrong of Derwentside Enterprise Agency said: “We have worked with Corespec since the company was formed and seen it go from strength to strength. From small beginnings it has taken on the UK’s major manufacturers and become one of the largest and most successful companies in its sector. It is one of the many successful companies making up Derwentside’s strong business base and we are confident it will continue to do well.”
Details of Derwentside Enterprise Agency’s support for business is on 01207 580 011 and at www.derwentsideenterprise.co.uk . Corespec Ltd is on 01207 529 944.
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