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Car parts firm created 120 new jobs in Stockton

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image captionNifco's current factory has become too small

A Japanese car component firm is creating 120 jobs and safeguarding a further 180 with the expansion of its site on Teesside.

Nifco makes parts for Nissan, Toyota and Honda and is spending £8.5m on a new facility in Stockton's Durham Lane.

The firm currently operates from a 44-year-old site in the town that is unable to support updated machinery.

Work on the new plant is expected to take up to 12 months, when all of the new staff should be in place.

A company spokesman said: "For us this will be an opportunity to house all the business that we won over the past few years.

"It will enable us to continue to grow, so by 2013 we expect to be achieving sales of about £45m.

"But more importantly we are going to be generating 120 permanent new roles."

Regional development agency One North East contributed £1m to the project.

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