The Darlington based firm, which supplies a wide range of sectors, including the oil and gas, renewable energy and subsea markets, has announced its turnover and profit for the financial year to the end of March 2012.
Due partly to winning and delivering a major project off the coast of Russia’s Sakhalin Island, MTE Ltd is recording turnover in excess of £16 million and profits of £600,000.
MTE Ltd has two business units: one manufacturing fire and blast rated modular units, the other producing lightweight prefabricated topside cladding products to protect workers in hazardous environments.
The company, which has its head offices and main fabrication facilities across two sites in Darlington, as well as a second manufacturing operation at AV Dawson, on the banks of the River Tees in Middlesbrough, employs 170 people.
Established in 1969, the company was originally a toolmaker focussing on smaller manufacturing operations. However, for more than 35 years, MTE Ltd has been active in the oil and gas market and now utilises traditional manufacturing skills for modern growth industries, such as those in the offshore renewables market.
MTE Ltd Business Manager Matthew Camp said: “These figures reflect an excellent year for MTE Ltd. Our activity has grown across a range of markets and we have been boosted by the operations off Sakhalin Island, where we have provided products for an offshore fixed platform.
“The growth of the renewables market and our sustained presence as a major supply chain company for the oil, gas and nuclear markets puts the company in a strong position for the future.
“We have also taken steps to increase our presence in developing markets, such as becoming a part of the newly-formed Energi Coast, North East England’s Renewable Group.
“By developing traditional manufacturing techniques to suit these industries, the company has continued to thrive as a supplier of bespoke products and a significant regional employer.”