Altec’s £1.5M Expansion Programme Boosts North East Engineering
Date Added 05/03/2014
Altec Engineering Limited has today announced a £1.5M expansion programme for the company’s Bowburn facility. This major investment, a key part of Altec’s strategy for growth over the next 5 years, will see floor-space increase by 75%, the recruitment of additional personnel, including more apprentices, and the purchase of new plant and equipment.
The new 7,500sqft extension to the company’s existing facility includes a segregated area dedicated to the build of Special Purpose Machines, whilst the additional floor-space available for manufacturing will house a suite of new CNC machines to meet the increased demand for precision-machined components. There will also be new production offices and a dedicated quality department to support the additional manufacturing capacity.
Once completed, the extension will allow Altec to double capacity and turnover whilst increasing profitability. An additional 18 skilled engineering jobs will be created, 5 of which will be apprentices, taking the number of apprentices in training at Altec to 14, and bringing the overall number employed by the company to 80.
This latest investment in apprentice recruitment and training demonstrates Altec’s commitment to delivering the skills required for future growth in the Engineering Sector, whilst at the same time, safeguarding the skill base within the company.
Managing Director David Steel commented “this is a key part of Altec’s strategy for the future and consolidates our plans for sustained growth over the next 5 years. The additional floor-space and capacity available will allow us to continue to meet the increase in demand for our services and systems which we are experiencing across all areas of the business”. This latest announcement follows a recent £600K investment by the company in a range of new machine tools.
Altec has been in business for 35 years and have grown to become a highly successful and dynamic company offering a comprehensive range of services including Mechanical & Electrical Engineering, CNC Precision Machining and Special Purpose Machine Design & Build. The company operates within the Oil & Gas, Automotive, Aerospace & Space Science, Medical Science and Nuclear & Renewables sectors.
Work on the new extension will commence with a ground-breaking ceremony to be held in March, with completion expected by the Autumn of this year. Meticulous project planning and management will ensure that current production levels and delivery commitments are maintained throughout the development phase.