A fast -growing engineering company has created six jobs after investing in new state-of-the-art machinery to enable it to bring in more work.
Consett-based Ashgarth Engineering was founded by directors Niall Ash and Paul Westgarth in 2017 having previously worked together for different engineering companies.
Initially just the two of them, the business quickly grew and in 2018 the company took on its first member of staff.
Today, Ashgarth employs 14 people with plans to increase headcount to 19 by 2023.
Recently the company made a successful application to the County Durham Growth Fund and was able to invest in two new machines which are allowing the company to engineer parts in a seamless, single process which has improved efficiency and productivity.
Niall said: “The grant we’ve received from the County Durham Growth Fund has been invaluable to us as without it we probably would have only been able to purchase one machine.
“The investment we’ve made into the new CNC machines is really enhancing our offer to clients. At a time when every penny counts in terms of production processes, these machines are simplifying the way our products are engineered.
“It means we’re in a much stronger position to secure larger orders with much bigger companies, which is fast-tracking our growth plans and should see our turnover pass the £2m mark by 2025.”
Ashgarth Engineering, which works with clients in sectors including oil and gas, healthcare and subsea, is based at Number One Industrial Estate in Consett and last year relocated to larger premises on the site, supporting the company’s year on year growth.
Paul added: “Since Niall and I set the business up in 2017, we’ve invested wisely and have also maximised the grant support available to us, which has enabled us to purchase more machines and create jobs which have put us in a very strong position in terms of our plans for the future.
“Since we secured the investment from the County Durham Growth Fund, we’ve created six jobs taking our workforce to 14 and over the next 12 months we expect that number to rise to 19.
“It’s an exciting time for the business and we’re proud to be bringing employment to the Consett area.”
The County Durham Growth Fund is managed by Business Durham in partnership with UMi and is supported by the European Regional Development Fund (ERDF). All successful grant applications are appraised by UNW LLP, an independent firm of chartered accountants and business advisers.
Stuart Armstrong, DBOP Business Engagement Officer at Business Durham, said: “Niall and Paul have worked so hard to build up a successful business and now, thanks to the grant support secured through the County Durham Growth Fund, they’ve been able to purchase two machines and create six new jobs, cementing their future in Consett.”
Simon Allen, investment centre director at UMI, added: “The County Durham Growth Fund is here to support businesses that want to invest to enable them to secure larger contracts, break into new markets and create jobs, and that’s exactly what Ashgarth Engineering are doing.”
Lara Marshall, Grant Support Services Manager at UNW, said: “Ashgarth Engineering is a real success story for the area. It’s excellent to see them continue their expansion with the funding provided by the County Durham Growth Fund, increasing their client base and creating more jobs as a result.”