New owners for Hartlepool's Stadium plant
Hartlepool's Stadium Group is in new hands.
The firm, which manufactures cutting edge technology including connectivity solutions, power supplies, human machine interface products and electronic assemblies and its plant in Brenda Road, has been taken over by TT Electronics plc.
News of the takeover bid first emerged in February, with company bosses saying they did not expect to see any job losses at the firm’s UK operation, but a small headcount loss was possible with a reduction of staff in the US.
Stadium Group has previously described the Hartlepool plant as being integral to the overall success of the company.
A TT Electronics’ statement said Stadium’s business was ‘a complementary fit’ with TT Electronics’ strategy to build leading positions in a range of key business sectors and that the proliferation of electronics is driving demand for TT Electronics’ solutions.up
Welcoming the move, TT Electronics CEO Richard Tyson said: “I am delighted to welcome Stadium’s employees and customers to the TT Electronics family.
“Stadium adds complementary technologies, including connectivity offerings, in industries we already know well.
“By combining our power electronics capabilities and R&D expertise we will drive growth and opportunity for the newly enlarged TT Electronics.
“We are committed to providing value, adding engineering solutions and outstanding service, working with our customers to create smarter solutions together.”
Stadium Group chose the Hartlepool plant as its UK centre of excellence a number of years ago.