The growing firm makes components for some of the world's most high profile telescopes, and it has recently secured deals worth £2m
Ruth McKernan, chief executive of Innovate UK, Paul Lackenby, business development director at Altec Engineering with one of the components which will go into the Near-Infared Spectrograph (Image: Chris White)
An innovative engineering company in County Durham is on the acquisition trail as it seeks to triple turnover to more than £30m within three years.
The Altec Engineering Group, based on the outskirts of Durham City, supplies components for some of the world’s most prestigious telescopes, through its work with the Durham Centre for Advanced Instrumentation (CfAI) at the North East Technology Park (NETPark) Sedgefield, County Durham .
Altec was originally connected to the CfAI by Business Durham, the economic development company for County Durham, which manages NETPark.
Dozens of companies have now been encouraged to follow in Altec’s footsteps at the Innovation Supply Chain Conference when they heard how they could make the most of hundreds of opportunities created by high-tech companies based at the science park.
Altec, which has 180 staff across the UK, has recently won contracts valued at £2m for the production of complex aerospace, oil and gas, automotive and defence components.
The group’s special purpose division continues to win orders for production automation systems from a number of industry sectors.
It is closely involved with several space science projects, including work related to the European Space Agency.
The growth of Altec, which was formed in 1978 by Ron Waite MBE as a small North East-based engineering company, was accelerated by a £6m funding boost from the Business Growth Fund (BGF) last year, which allowed it to acquire precision engineering firm, Ronco Engineering in Tanfield Lea, near Stanley; West Yorkshire-based Sigma Technologies and Quick Hydraulics in North Shields.
This year, its turnover is expected to reach £11m – and almost triple to £32m by 2019. It has an ongoing programme of recruitment and around 10 per cent of its workers are apprentices.
Paul Lackenby, business development director, at the firm said: “Our ongoing strategy remains one of continued growth and investment in complimentary technologies. Each company within the group has established a reputation for excellence in the fields within which they operate.”
Since the BGF funding, the company has made further investment in state-of-the-art CNC machine tool technology, specialist coatings technologies, additive manufacturing and a further expansion of group facilities, including those of the special purpose equipment division.
Mr Lackenby said: “Innovation is at the heart of everything the Altec Engineering Group does in terms of the way we work with and support our customers, the technologies we embrace and the processes which we develop in house to ensure the highest levels of productivity and quality.
“We also firmly believe that Innovation is key to the ongoing success of UK manufacturing, so we feel that sponsoring this conference is the perfect opportunity to reinforce our commitment to Innovation.”
Business Durham organised the sell-out conference, which was sponsored by Altec, to provide the platform to engage with local businesses, foster collaborations and help demystify the perception around the potential opportunities in the science and technology supply chain. They are opportunities which will be provided by NETPark companies both now and also in the future.
Business Durham’s innovation and business growth director, Catherine Johns, said: “From a spin-off from Durham University to company targeting a £32m turnover, Altec has proved it has the specialist skills, innovation and quality to design and manufacture some of the world’s best components.
“There are so many companies in the North East which can hook into the supply chain of NETPark if they know how. By collaborating with local companies at an early stage, we can ensure that they are the first to benefit from the future expansion of NETPark, in turn boosting the economic productivity and prosperity in the region.
“Many companies are also thriving from the networking opportunities, support and events provided via our online community NETPark Net.”
Some of the region's top businesses and organisations are backing our search for the North East's most talented youngsters.
The Chronicle's Young Achiever Awards 2003 will highlight the hard work, courage and determination of our young people and pay tribute to them.
Twelve leading organisations are backing the awards as sponsors and will be judging their chosen category.
Newcastle University is fully behind the undergraduate student achievement category, which was won last year by Lindsey Peek.
Prof Madeleine Atkins, pro-vice-chancellor for teaching and learning at the university, said: "Figures published this week show more pupils than ever from the North East are choosing to go on to university.
"The region's five universities are committed to encouraging even more to grasp the opportunities for higher education available to them, and have schemes to help them overcome any barriers along the way.
"Initiatives such as Young Achiever, which celebrate the success of our young people, help to encourage others to aspire to do well, and for that reason we're delighted once again to be supporting the Young Achiever Awards."
Patrick Chapman, director of children and young people, said: "We're strongly committed to the development of young people who all have the potential to make a difference in the lives of themselves and others.
Northern Electric is sponsoring the NVQ achievement category. External affairs director Mike Leighton said: "NVQs are a vital means of investing in an individual's future, and the future of their family and community."
Executive vice-chairman Bill McGawley said: "The awards are a chance to highlight to those who have an easy ride that there are great examples of huge success from youngsters who don't.
Undercover teen-agers are being sought to help catch shopkeepers selling alcohol and cigarettes to underage youngsters.
All volunteers receive a certificate from the mayor, which can be used in their record of achievement portfolio as evidence of service to the community.
The teenagers will be asked to enter shops and try to buy an age-restricted product. A trading standards officer who observes the attempted purchase accompanies them.
The youngsters will not be asked to work in areas where they will be recognised, and their safety is of paramount importance.
Coun Eddie Darke, the council's cabinet member for community safety, said: "There are alarming trends suggesting that more and more underage young people are drinking and smoking and we enlists young volunteers to help us ensure traders comply with legislation."
Darren Gough needs to come up with a new collection of nifty moves if he is to sashay his way back into the England reckoning this winter.
Gough was a rank outsider to make any waves in BBC's Strictly Come Dancing show, yet it was the veteran England pace bowler who dazzled the Saturday night audience to steal the limelight ahead of more fancied celebrities.
The Yorkshireman will doubtless be pleased to hear too that news of his success in sequins has already been noted five time zones away by England coach Duncan Fletcher, who is also aware Gough retains his ambition to win his place back in the one-day squad as it takes shape for the 2007 World Cup.
"I was aware that he did dance nicely. I'm very pleased for him," said Fletcher who divulged, however, that he was not tempted to make a long-distance call from Islamabad to London to vote for the Yorkshireman.
Gough, who ruled himself out of England's tour of Pakistan for family reasons and will be 36 years old by the time they set off for the Caribbean to try to win the World Cup for the first time, has reportedly also shown an interest in the vacancy for a fast-bowling coach following Troy Cooley's decision to work instead in his native Australia from early next year.
All of the above has been logged by Fletcher, who nonetheless - true to type - has no inclination to drop broad hints in public about Gough's chances of returning to the England fold in whatever capacity.
His prospects of winning his place back in the England attack in time to face India next spring can hardly have been harmed by the tourists' off-colour performance with ball and bat in their last one-dayer in Karachi where they were trounced by Pakistan who lead the series 2-1, going into the fourth match of five in Rawalpindi today.
The possible absence of Durham fast bowler Stephen Harmison - he is struggling with a flu virus and missed practice yesterday - is another blow to England who, according to home captain Inzamam-ul-Haq, have made the mistake of significantly under-estimating their hosts on what has proved a difficult tour.
Fletcher points out he therefore has plenty of immediate concerns without pondering too long just yet over Gough's or anyone else's credentials to bowl for or help to coach England.
On Cooley's successor, he confirmed: "The applications will be put out, and it will be interesting to see who applies for it. We will sit down and consider who is the best applicant at the time."
Fletcher is similarly happy to bide his time when it comes to the likelihood of the return of Gough or inclusion of anyone else in an attack which was unable in Karachi, and in the second match in Lahore before that, to contain Pakistan's destructive batsmen.
"We haven't ruled anyone out - we'll make our decision in January. We'll have to see then what's the best squad we'll need for India," he said.
Inzamam, meanwhile, had more outspoken views yesterday on England's struggles during a two-month tour which brought a 2-0 Test series defeat and is not at present going their way in limited-overs terms either.
"After England had won the Ashes, I don't think they ever thought we would play this well when they came out here. We have taken England by surprise," he claimed.
"We said all along that it would be a very difficult tour out here. Pakistan are a talented side and they've played well," he said, adding England retain an appetite for the battle against much-improved opponents who have won nine out of their last 10 one-day matches.
"At the end of the day we just have to accept that they've batted well and bowled well. They've done a good job; they've done their homework," added the England coach, who retains faith in his own team - particularly in the longer term when the likes of captain Michael Vaughan, key batsman Kevin Pietersen and left-arm spinner Ashley Giles are fit again.
"We've got a well-balanced side. It is significant that we're missing four of our main players. When a side misses one major player you do feel vulnerable," he said.
"Three or four is quite a big gap to fill in any side. If we can get the whole side together on the field I think we have a very good side."
Even in the absence of some of England's leading lights, Fletcher believes they still have it in them to finish their sub-Continental travails on a high.
"If we are positive and we win tomorrow we will have a slight advantage going into that last game," he reasoned.
"We just have to do the basics right. We still have a lot of enthusiasm and energy, which is pleasing to see."