Growth plan in UK and Brazil for plating specialist
Nitec UK has submitted plans to build a 15,000 sq ft extension next spring, which will create four new jobs and enable the company to step up production at its base in Chesterfield, Derbyshire,
Marcus Hill, Nitec UK commercial director, said: "We are doing extremely well in the current climate and have increased our sales and turnover dramatically.
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Hide Ad"Our plan to set up a plating facility in Brazil is at an advanced stage and we aim to make a final decision in due course.
"The extension to our Chesterfield facility will enable us to add a seventh electroless nickel-plating production line and our first for cadmium plating so we can develop opportunities in the global oil field market."
Nitec UK, which was founded in 1984 and acquired by Marcus Hill's family business Hill and Hill in 1989, operates from 23,000 sq ft premises at Holmewood Industrial Estate, where it moved five years ago.
It provides electroless nickel-plating, which creates a uniform hard surface to engineering parts, increasing their hardness and lengthening their life.
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Hide AdThe business, which has 28 staff and a 3.5m turnover, supports enterprises in both the public and private sectors including defence, aerospace, automotive and general engineering, coating items such as pipeline connectors, heat sinks, marine hydraulics and aerospace control systems.
Yorkshire Bank is supporting the company through its Investing For Growth initiative.
Yorkshire Bank's Investing for Growth initiative enables businesses to take advantage of loan repayment holidays, interest-only repayments and extended loan and credit terms designed to help them take advantage of quality growth opportunities.
Businesses taking up the package can re-invest the cash into their operation for expansion, new staff, equipment, machinery and commercial development.