Accounts for one of the North East’s largest automotive suppliers show how the key sector is bouncing back after a difficult few years but still facing a range of challenges.
Gestamp Tallent has seen growth in revenues after a difficult few years in which the automotive sector was hit first by the Covid pandemic and then the ensuing global shortage of semiconductors, as well as the cost-of-living crisis.
Gestamp – which employs more than 1,800 people at its plant in Newton Aycliffe, County Durham – saw revenues increase to £390.1m, though its operating losses widened to £26.1m.
Source: Business Live
