A Gateshead engineering firm has its sights set on becoming a major player in the oil and gas industry, after developing a new strand to the business and taking on more employees.
Jordan Engineering Ltd has traditionally focused on machining, but, at the start of the year, launched a new division, Jordan Techweld, focused on fabrication.
Already, the business, which has created 15 new roles, has generated an order book in excess of £500,000.
It is on track to hit first turnover of £1m, on top of Jordan Engineering revenues of around £4.5m.
By 2015, it is hoped the two businesses will create a combined turnover of £8m, going on to top the £10m mark within three to four years.
“Instead of a subcontractor, we decided to bring the fabrication in-house,” said Peter Jordan, formerly managing director of Jordan Engineering, now chief executive of both businesses.
“In our business plan, we said we’d have 15 people within the first year, but we’ve done that within the first five months.
“The orders and enquiries were picking up, so we went ahead and brought people in as quickly as we could. Ultimately, we want to become a partner with the big guys in the oil and gas industry.”
Established around 40 years ago, Jordan Engineering was originally part of the Andaray Group, which had sites in Sheffield, the Midlands, Yorkshire and Denmark.
Around 10 years ago, then, Peter’s father, Bryan - a shareholder in the group - got the opportunity for a management buy out, with Peter eventually taking over at the helm following Bryan’s death around six years ago.
Previously, Jordan Engineering, which employs around 75 people, has worked in the yellow goods sector, as well as oil and gas, but with the two Jordan businesses now complementing each other, it is hoped the latter will become the primary focus.
To launch Jordan Techweld - which has already achieved the coveted ISO 3834-2: 2005 accreditation - Jordan moved into the chief executive role, bringing in Geoff Harmer, formerly of Weldex, as managing director of the new division, supported by Ian Hudspith as operations director and Eric Anderson as welding engineer.
Duncan McDonald, meanwhile, has taken over as managing director of Jordan Engineering.
“These guys have a lot of experience and to be honest, it has gone beyond our expectations,” Jordan said.