Member Article

Electronics firm to create 90 jobs

A Houghton-le-Spring based electronics firm is looking to create around 90 new jobs after receiving £200,000 worth of funding.

Connor Solutions say the investment will give it the working capital required to take advantage of new opportunities coming up in the next year.

The firm has seen turnover increase by more than 12% over the last year, to £13.3m.

The County Durham based firm is now aiming to break the £20m turnover barrier within the next three years.

Phil Hall, finance director at Connor Solutions, says: “The recession made things tough for both ourselves and our customers, but our performance over the last year has demonstrated both the resilience and quality of our business model, and we’re very much looking forward to a strong future.

“We firmly believe that we’ve got everything in place to effect a real step change in the business over the next three years, and will be able to create a significant number of new jobs in the process.”

The firm secured the funding from regional fund management firm NEL Fund Managers, via the Finance For Business North East Growth Fund.

Jane Siddle, investment executive at NEL Fund Managers, said: “Connor has consistently delivered on its business plans over many years, and is a fantastic advert for the manufacturing skillsbase that we have in the north east.

This was posted in Bdaily's Members' News section by Ruth Mitchell .