Advanced engineering specialist, GT Group, has secured £100m of additional business as it enters one of the fastest periods of growth in its 30 year history.
The company, which is headquartered at Peterlee, experienced year-on-year growth of 25% in 2013 and is forecasting 35% for the following year.
GT Group, which employs 350 people across the North East, supplies engine emissions control systems to leading manufacturers of heavy duty commercial vehicles across the world. A range of new agreements has been reached with major players in the sector, resulting in the group securing work from 2015 to 2020.
Chairman Geoff Turnbull said: “The decisions by some of the world’s leading manufacturers to designate our technology for engine platforms is the key to advance orders in the region of £100m per year after five years.
“The engine technology is essential for trucks and heavy duty off-road vehicles in developed markets, which need to meet tough emissions criteria and it is now being adopted by all manufacturers of heavy duty diesel engines. Our success in achieving advance designation will ensure our products, manufactured in the North East, are exported all over the world.”