AN engineering group that specialises in waterjet and laser cutting has recovered from its early losses to record strong growth.
Washington Waterjet Ltd was set up in Crowther Industrial Estate in Washington in 2008 as an offshoot of nearby Laser Profiling (North East) Ltd in 2008.
The firm suffered in the downturn, recording first year losses of between £26,000 and worked up debts but since then new managing director Peter Robinson has led a turnaround in its fortunes.
The firm, which now employs six people, has grown its turnover from £50,000 to £1m and he now expects it see sales of £1.5m by the end of February next year and a pre-tax profit of around £300,000.
Recent contracts include work for Gateshead-based Astley signs to cut signs for supermarket chain Sainsbury's, and for Washington-based Architectural Metalworkers as part of its contract to make a glass and steel entrance for Roker Pier in Sunderland.
Robinson said: “It was a huge risk for me to come into the Washington Waterjet business at a time when it was struggling to get off the ground.
“However, I’m glad I did as the experience that myself and Andrea have brought to the business has helped to grow its sales and really make it a business worth investing in.
“The services we provide are proving cost effective for our customers, which we are looking to increase over the rest of the year.”
The firm is looking to move into a bigger base and move into using a plasma torch as well as water jets and lasers to cut metal precisely.
Robinson said: “If the business continue to grow at this rate we will have to look for new premises, particularly as we add high definition plasma cutting to our range of services.