Foundry Daily News

UK - Cti recruits more staff in expansion

CASTINGS Technology International is almost doubling the size of its operations on South Yorkshire's Advanced Manufacturing Park and creating 30 new jobs.

The £4.7 million expansion comes two years after Cti moved its headquarters to the Advanced Manufacturing Park and will be part funded by selling its former HQ on East Bank Road.

The research and development organisation has started work on a, 40,000 sq ft building that will increase the space it occupies on the park to 90,000 sq ft and bring its total investment in the Park to just over £15 million.

Cti is raising finance for the project from NatWest Bank, the Objective 1 regeneration programme and regional development agency Yorkshire Forward, in addition to selling its former HQ.

Cti's Chief Executive, Mike Ashton, said: "The confidence to undertake another major investment on the AMP so soon reflects the success we've achieved in recent years and especially since we moved onto the Park.

"We're at the end of a five year Business Plan in which we have met, or bettered, the projections in terms of revenues and profit, achieving an average compound revenue growth of 11 per cent.

"Projections for the next three years envisage further growth of more than 42 per cent, requiring the recruitment of 30 additional people. This will ensure a sustainable future for Cti as one of the world's leading centres for research, technology and services relevant to casting supply chains and new markets".

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