Annfield Plain - based Dyer Engineering approached the County Durham Growth Fund team to seek financial support towards an ambitious £1.4m project it wanted to undertake.
The project has enabled Dyer Engineering to access new markets by investing in cutting edge machinery to strengthen the company’s manufacturing capabilities
As one of the most established engineering businesses in the region, the County Durham Growth Fund was keen to help Dyer Engineering with its plans, which will lead to the creation of new jobs at the Annfield Plain site.
The team agreed a substantial investment of £475,000 which has helped with the purchase of a £500k fibre laser profiling machine, as well as offsetting further costs to house the machine of £245,000 and additional capital spend on robotic welding units and cranes.
Finance director at Dyer Engineering, Richard Bradley, said: “We are constantly evolving and looking for new markets to break into.
“With the financial support from the County Durham Growth Fund, alongside our own investment, we are creating new jobs and accessing new markets which we believe will not only put the business in a significantly stronger position but also help us secure our long-term future in the region.”
Dyer Engineering is an innovative group of fabrication and machining businesses with wide-ranging capabilities to manufacture metal components and structures. Dyer Engineering also provides maintenance, repair and overhaul support services to keep customers’ equipment, facilities and processes running.
Sarah Slaven, Interim Managing Director at Business Durham, said: “Dyer Engineering is one of County Durham’s most established businesses, which is now able to focus on its long-term future thanks to the support we’ve been able to offer through the County Durham Growth Fund.”
The County Durham Growth Fund is being delivered collaboratively by Business Durham and UMi with funding from the European Regional Development Fund (ERDF).
Simon Allen, Investment Centre Director at UMi, said: “This project represents a significant investment by the fund, helping Dyer Engineering diversify and create new jobs which will bring a real boost to the region’s economy.”