A cryogenics equipment supplier based in
Statebourne Cryogenics is the
The investment, a capital sum of £360,000 and a Selective Finance for Investment (SFI) Grant of £100,000 from One NorthEast, will create 20 new full time jobs and assist in modernisation and investment at the
Jim Haley, managing director of Statebourne Cryogenics, said: ‘We are delighted to have been awarded a Selective Finance for Investment (SFI) Grant of £100,000, which has helped us target the cattle breeding market that was previously out of reach.
‘The grant has enabled us to expand the business by taking over the adjacent unit on site and purchase and install new manufacturing equipment. This has also allowed us more space to cope with the increasing volumes of units produced and to streamline the layout of the current manufacturing facilities into dedicated assembly lines.
‘With the increased production capacity, the company can manufacture more vessels aimed at this high volume, global market.’
Ian Williams, One NorthEast director of business and industry, said: ‘Statebourne Cryogenics is a real north east family business and is one of the leading cryogenics manufacturing companies in the
This project is being part financed by the European Regional Development Fund.