Tharsus engineering and manufacturing has invested over £1m into a new 31,000 square foot site in order to continue its rapid expansion plans.
Founded in 1964, the company has successfully re-engineered itself into a leading high tech manufacturer of fully finished complex electro-mechanical products and has now purchased new machinery and a site which will house the assembly of the fully finished items.
Tharsus secured a deal on the vast site which has previously been empty for three years thanks to a £245,000 GBI grant from One North East. The overall investment will also cover kitting out the plant with state of the art capital equipment including cutting edge technology and manufacturing machinery.
Tharsus was advised on its grant application by unw corporate finance partner, Neville Bearpark who commented: "unw was delighted to advise Tharsus on obtaining funding for this project. Although the GBI scheme has now closed we are actively working with this company and others in the region on accessing the Government's new grant scheme - Regional Growth Fund."
The new factory is only 400 metres from one of Tharsus' current sites in Blyth Riverside Business Park and sits on almost four acres, meaning further expansion in the future is straightforward.
The two neighbouring sites will have data and communications networked together; effectively making them function as one unit.
Tharsus managing director Brian Palmer said: "We are thrilled to have completed the deal on the new site as it is in the perfect location and has masses of room for future development.
"We feel really gratified having worked our way through a tricky recession to now be growing into new marketplaces and achieving new bigger contracts. We are very optimistic about the future of manufacturing in this region; we now have a very scalable and innovation-led business so believe we can only continue to grow as our markets expand worldwide.
"With the site being out of use for such a long time we are happy to see it back in action. It will need to undergo a six month refurbishment programme including a complete refit internally, re-cladding externally and rewiring throughout. Northumberland County Council has awarded us with a second grant to help with the refurbishment and we plan to use local contractors to carry out the work.
"New equipment is due to be installed at the site including a laser scanning tool that allows the user to collect all the dimensions of a product to the finest detail in one scan. We will also have a new press brake with greater metal bending abilities than we have had before and the latest computing power and software. These new facilities will really boost productivity, improve quality and reduce cost.
"The new factory will further enhance our ability to work with clients who need a new product developed and manufactured in the most efficient and cost effective manner. Further expansion on the site in the future will allow us to deliver even larger more complex orders and of course create new jobs in the process."