The Eaglescliffe car parts maker, which produces components used in car engines and interiors, was awarded the multi-year deal after a competitive tender process which saw it beat competition from companies from the UK and around the world.
The lucrative contract, which starts straight away, will secure up to 50 new jobs for the region, added to the 295 jobs that will have been maintained and secured since 2012.
Engineers from Nifco will work with Ford’s product development teams, producing a complex thermostatic control assembly for a next generation Ford low CO2 engine.
Mike Matthews, managing director and European operations officer, said that the contract was a hugely significant win for the company.
He said: “We are absolutely delighted to have won this contract with Ford.
“The scope and size of the deal is unprecedented, and is made even more significant by the fact we have managed to displace competitors from right around the world. It is further proof of just how far Nifco has come, and the way in which the close relationships we build with our clients are helping us to better understand their business and the ways in which we can support them.
“The jobs this will secure and the impact it will have locally is such a boost, and we’re thrilled to have been chosen to deliver it.”
The contract is another positive boost for the company, which has an order book that is full for the next five years.
Chancellor of the Exchequer George Osborne said: “Our long term economic plan for the North East is all about building on the area’s strengths like manufacturing and backing businesses that are growing and creating jobs.
“Nifco’s continued success along with its new contract with Ford, is fantastic news for the North East.”