Walker offshore specialist TechnipFMC has won contracts worth more than $150m which will bring work to its regional yard.
TechnipFMC, which has its head office and main UK yard in Walker, Newcastle, as well as operations the US, France, Brazil and Malaysia, France, Brazil and Malaysia, designs and manufactures umbilical cable and flexible pipes.
The firm, which employs more than 300 people on Tyneside, counts major global oil and gas companies among its clients, and has seen significant growth in contract wins over the last few years.
Now the New York Stock Exchange listed business has announced two ‘significant’ contract wins with energy giant Equinor, which will see it carry out work on the Norwegian Continental Shelf. The first sees Technnip win work on Equinor’s Verdande project – awarded under TechnipFMC’s framework agreement with Equinor – and covers the complete subsea production system including subsea trees and structures, control systems, connections, tooling, and installation support.
In a separate announcement the firm announced it had has been awarded a significant contract to work on Equinor’s Irpa oil and gas development on the Norwegian Continental Shelf. The contract covers the supply and installation of subsea trees, control systems, structures, and connections, as well as tooling. TechnipFMC said significant contracts are worth between $75m and $250m.
Northumberland iced drinks company Polar Krush is set for growth on the back of a new licence deal.
The Ashington frozen drinks maker says it will create new jobs on the back of acquiring a licence to start selling the worldwide brand Calippo in a new flavour called Magic Blue. The firm has added the limited edition flavour to take the brand’s flavours to six, adding to current flavours of strawberry, lemon, orange, lime and cola.
Directors said the the development also enables the firm to expand into new markets. Polar Krush is primarily sold in the UK but with this expansion the firm will be able to sell more in Europe primarily in Germany, Poland and Italy.
The company’s 30-strong workforce is also set to grow, with recruitment within sales, finance and production. New apprentices are also set to be brought on board.
Wearside web agency Blueocto is looking to build its client base beyond the region after securing a five-figure investment from the North East Small Loan Fund.
Blueocto, based at the North East Business and Innovation Centre in Sunderland, specialises in providing web services including website design, responsive web development, web audits and SEO. The company has an increasing focus on delivering Shopify and other ecommerce solutions, mainly for SMEs across the North East.
The company was founded in 2015 by experienced developer Caroline Hagan, who worked as a sole practitioner for five years before deciding to grow her business at the beginning of the pandemic on the back of increased client demand. Having built a five-strong team over the last three years, Blueocto is now looking to use the £30,000 Small Loan Fund investment, obtained through regional fund management firm NEL Fund Managers, to help create new jobs as it builds its client base within and outside the region.
Ms Hagan said: “We have an excellent team in place, but we know that we need more capacity if we’re going to go after more contracts and fully realise the business’s potential, so we’re looking to bring in more high-calibre staff through the coming year.”
County Durham steel railings and staircases company Steelcraft (NE) Ltd has moved into new premises following a £400,000 investment from its new owners. Steelcraft (NE) Ltd was saved from closure last year after Argento Investments, part of Silvanito Holdings, acquired it out of administration, protecting jobs in the process. Now, the 27-strong firm has relocated to a newly refurbished facility at Tanfield Lea South Industrial Estate following the injection.
The 16,500 sqft base is more than double the size of its previous location and leaves room for Steelcraft to meet what it says are ambitious growth targets. Prior to its administration, the firm had suffered a reduction in turnover during the pandemic and the steep rise in steel costs.
At the time, Steelcraft's then managing director Matthew Rodgers said the 30 year old business had a strong customer base. It supplies local public sector clients and developers such as Taylor Wimpey, Keepmoat Homes and Vistry, among others. The firm also operates an ecommerce brand called FORJJ.
Louise Walker, newly appointed managing director at Steelcraft and divisional CEO of Silvanito Holdings, said: "It’s not very often we come across such an impressive core business and workforce, it is a perfect fit for our portfolio and, as our first investment in the North East, we have put in place everything necessary to focus on maintaining high standards and pushing for growth."
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