The filtration and separation specialist has moved to a purpose built manufacturing plant at Wynyard Park after securing funding from Let’s Grow North East, a £60m regional growth fund programme operated by BE Group.
The new factory will allow PSI to increase production of innovative technology, and the funding aims to boost its workforce from 60 to 90.
PSI also hope that the funding will help them to continue to export worldwide, having already established sales offices covering Europe, North America and Asia.
MD Daniel Hunter, whose parents George and Sue Hunter started the business 40 years ago, said: “Our aim is to continue to innovate and remain at the forefront of filtration and separation technology.
“It’s part of the drive to ensure we are responsive as possible to our clients’ needs.”
The company has set itself a target of increasing turnover by a further £3 million by the end of the decade.
Let’s Grow Project Advisor Andrew Frost said: “It’s great to see a family owned business like PSI Global flying the flag for North East manufacturing.
“Let’s Grow are delighted to have assisted the Company with this project which has already seen the business create 8 new jobs with a further 22 to come all of which will provide a major boost to the local economy. “
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement