Announcement comes as North East representatives join first Northern Powerhouse trade mission to South East Asia
A Malaysian technology firm is to invest £12m in a new North East-based factory in a move that will create 90 new high-skill jobs for the region.
The exact location of Petra Group’s new facility has not yet been decided but it will see North East workers use its patented micro-blasting technology to recycle rubber for high-end products.
The news comes as Prime Minister David Cameron and Business Secretary Sajid Javid led the first ever Northern Powerhouse trade mission to Singapore and Malaysia.
Five delegates from the region are among those from 62 North companies who will be making the region’s case and forging ever stronger links between businesses in the North East and the Far East. Mr Cameron said: “The Government is committed to ensuring the UK’s northern regions play their part in rebalancing our economy. With so much untapped potential, I’m delighted to be part of this first Northern Powerhouse trade mission – the first of what I hope will be many.
“Petra Group’s announcement that it will open its pioneering manufacturing to the North East of England, creating up to 90 jobs, is testament to the skills and expertise the North East has to offer.”
Mr Javid said the delegation represents a total turnover in excess of £10bn, with a combined workforce of over 50,000 and that the trip makes clear the Government’s commitment to the Northern Powerhouse.
He said: “Our long-term economic plan seeks to rebalance growth across the regions and nations of the UK, and building a Northern Powerhouse will be a key part of this.
“This mission – the first of its kind – will demonstrate the strength of the northern regions, which are home to some of the most innovative companies and institutions in the world.”
Among the organisations from the North East represented in the trade mission are North Shields’ John Lilley and Gillie Ltd, County Durham’s NCFE and Learning Curve Group – North East, Newcastle University and North East Chamber of Commerce.
Also in South East Asia are the Minister for Trade and Investment, Lord Maude, and Minister for Small Business, Industry and Enterprise, Anna Soubry.
James Ramsbotham, chief executive, North East Chamber of Commerce, said: “The business community is united in its desire to see the North East prosper and that’s why this Northern Powerhouse trade mission is so important.
“In the North East, we are the pace-setters in the country when it comes to exports and our region has a strong reputation for exporting globally. We have an immense opportunity here and we want to see the best possible opportunities for British business.
“We have got a really great story to tell about what our region can offer to South East Asia. The Northern Powerhouse will be a critical part of the UK’s economy and It is of the utmost importance that the North East is part of that.”
