AN electronics company has announced a jobs boost for Hartlepool – on the same day it revealed its trading results for the first half of the year.
And while business in 2012 has been tough for Stadium, which has an electronics base in Brenda Road, bosses say 20 new jobs are on the way in town thanks to two new and significant contracts.
The firm says it has contracts coming through to make smart meters and to manufacture electronic boxes for shops.
Ten staff are being recruited to cope with the extra workload. And another 10 are likely to be recruited next year.
The timely boost comes after Stadium Electronics saw profits fall from £1.5 m down to £0.58m and revenues fall 10 per cent from £23.2m at this time last year to £20.9m in the first half of 2012-13.
But the fall in demand, particularly for electronic manufacturing services (EMS) and especially in its Asian business, was likely to turn round when the effects of the company’s growth come into play, say management.
And that includes two significant pieces of business at the Hartlepool plant where workforce numbers are set to rise from 110 to 130 by next year.
Chief executive Stephen Phipson said: “We are in a tough market for the EMS business but we have got a couple of new contracts coming through and it is quite a healthy boost.
”One is in smart metering and the other in retail services. We plan to make both of those in Hartlepool.”
The news is not the only new development either.
Stadium also announced that it has just moved into a third line of business on top of its electronics arm in Hartlepool and its power business elsewhere. It is now moving into the displays sector.
Mr Phipson said that, while the displays business will be based in Southampton, it will benefit Hartlepool because there will be a demand for sub-systems.
Company chairman Nick Brayshaw said: “While trading during 2012 continues to be challenging, the company is now firmly on a path to deliver on its stated strategy. The future is exciting as we transition from a primarily EMS focussed business to one which complements this key strength with the provision of technology with a high degree of intellectual property.”