An expanding North East manufacturer has been singled out as “one to watch” in a league table of the country’s fastest growing firms.
Team Valley-based Express Engineering is the region's only representative on a 10-strong list of operations tipped to break into the UK’s top 100 private businesses demonstrating the most rapid expansion.
Turnover at the company grew by over 240% in 2012/13 to just under £30m and trading during the first eight months of this financial year has already passed that milestone.
As a result, Express, which employs around 375 people and also has sites in Stokesley and Brazil, has been highlighted in the Sunday Times Fast Track 100 supplement as a future contender.
Finance director Mike Blakey said: “This is great news which proves that our policy of investing for growth during the recession has really paid dividends.
“We are now equipped with the skills and capacity to take advantage of more confident markets and anticipate further significant expansion in the medium to long term. It would be fantastic to make the top 100 next year.”
The Sunday Times Fast Track 100 league table – published each December for the past 16 years - ranks companies on sales over three years.
As well as listing the top 100 it earmarks 10 more as “ones to watch”, the best performing of which will be announced at an awards dinner at Richard Branson’s Oxfordshire home next May.