Machinery grant to bring jobs to region
12:40pm Wednesday 15th October 2008
A CIRCUIT board manufacturer is hoping to bring work it had to subcontract to the Far East back to the North-East following new investment.
Faraday Printed Circuits received a £75,000 Selective Finance for Investment grant from regional development agency One NorthEast to buy new machinery.
It is part of the company’s £300,000 investment project to bring business back to the North-East.
Based in Washington, Wearside, Faraday Printed Circuits employs 58 staff and specialises in the manufacture and distribution of printed circuit boards (PCBs) for use in devices such as fire detection systems and motorway information signs.
Over recent years, the company has subcontracted an increasing amount of work to the Far East, due to an inability to manufacture more complex design types of PCBs.
Chairman and managing director, Gordon Arkley, said: “We are grateful to One North- East for their valuable contribution in helping to kick-start our investment project.
“The new equipment will enable us to expand production and increase turnover to our growing list of clients both here and abroad.”
The grant will also help secure 20 jobs and create three production operator roles at its Faraday Close headquarters.
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