Backed by £60m Regional Growth Fund programme, Let’s Grow North East, run by Newcastle accountancy firm UNW LLP and business services company the BE Group, Omega Plastics has obtained a £200,000 that has allowed them to attract huge investments from their three sites, including Hartlepool, Washington, and Blyth.
The three sites together make for the Omega Plastics Group, founded in 2015 after the union of Signal Plastics and Omega Plastics.
In the first phase of investment, the group set up a 1,300-tonne plastic injection moulding machine along with overhead robotic equipment at their Washington facility for Signal Plastics. The machine worth £400,000 allowed them to manufacture additional, larger components for the automotive industry, in which they act as tier one and tier two to different car manufacturers.
Further, the new machine set up has witnessed the introduction of three professional plant operators. Also, it has resulted in benefits such as energy efficiency.
Signal Plastics’ managing director, Alan Franklin stated, “We’ve made this investment on the back of increased demand from the automotive industry. It’s a significant development in the growth of the business but we’ll see the rewards not just in terms of the extended product offer we can make to customers but also in making our process more cost-effective by improving our energy efficiency.”
BE Group’s project adviser, Andrew Frost said, “It’s very encouraging to see North East companies like Omega Plastics Group investing in new state of the art equipment which as well we driving growth is creating new, highly skilled jobs within the business. It’s great that Let’s Grow has been able to play a significant role in helping the company to achieve this.”
The group celebrated its 10th anniversary in April with ISO/TS 16949:2009 accreditation, which is the international quality standard for the automotive industry. It even confirms that the group is on its track to report a 50% surged turnover, i.e. to touch nearly £8.5m this year.