An oilfield engineering manufacturing company formed less than a year ago is set to become one of Northumberland’s fastest growing companies with a projected turnover of £2m.
Metalis Energy, based on Ashington’s Ashwood Business Park, specialises in high pressure pipeline and wellhead components for the international oil and gas sector.
The business was established in August 2013 by Morpeth engineer Paul McCreton, who ran Metalis Energy with two employees initially and will take on a further ten people to help grow his business thanks to funding from Northumberland Arch’s Business Growth Programme.
The programme also supported his business with a £125,000 grant for a CNC machining centre for the factory.
Paul said: “Northumberland is the perfect place for us to be based as it has a great tradition of heavy engineering skills and business space is relatively inexpensive.
“With the Arch support I am confident I can exploit the terrific opportunities there are in the offshore oil and gas sector at present.
“Arch’s grant has enabled my business to take a great leap forward.
“I strongly believe the north east can be a flagship for this industry.”
Peter McIntyre, Arch Group managing director, added: “Metalis’ business potential is huge and the team there have exactly the right expertise to exploit it.
“Our aim is to help Northumberland’s economy grow and supporting companies like them benefits the whole county in a number of ways, from creating skilled jobs to increasing our profile across the world through their client base.”