Jobs increase Stockton car parts maker Nifco UK

A STOCKTON car parts maker will create 127 new jobs after securing a government cash transfer. Nifco UK won £ 1.65m Regional Growth Fund cash last year, a move that also maintain 168 existing jobs and facilitate the transition of the company to market electric vehicle batteries. The company, a newly built factory state-of-the-art facilities and offices in Eaglescliffe, went from strength to strength after it was forced to lay off a third of the labor force in 2008, following a severe decline in the automotive industry. The company has struggled with strong sales campaigns, which last year saw them secure an unprecedented £ 18m in new business, including millions of pounds worth of work on the Nissan Leaf electric vehicle and a Honda Civic and CRV models. Nifco UK is also looking forward to working with Jaguar Land Rover in India and China. A further £ 11m was spent on new plant investment company takes almost £ 20m last year. Rapid expansion means Nifco UK has taken on new staff - including many of the original workers redundant during the 2008 crisis. Mike Matthews, managing director of Nifco UK, said: "We have successfully cleared due diligence for the Regional Growth Fund. "We want to send a thank you to Tees Valley Unlimited, Stockton Council, and again, all useful in helping us secure funding. "If not for TVU, we can not move fast enough to secure the funds. "I would encourage every director of the company to participate in these organizations. "We also have a strong management team that has helped us achieve cost £ 18m unprecedented out of business last year, the years before 2008 the highest recorded. "We have won new contracts in recent years, including working with Jaguar Landrover. "We hope to build on that and work on it in India and China." The company also won the award last year clutch, including the nebusiness Company of the Year award.