NTG Precision Engineering is preparing for its move to larger premises with a significant investment in technology to boost its capabilities and capacity.
Ahead of the move to the 45,000 square foot facility in Gateshead, North East England later this year, the company has acquired a £500,000 milling machine, which will be used to manufacture Metal components for industries including electric vehicles, food production and power generation.
It forms part of an ongoing £3.5m capital investment programme, which also includes the recent addition of two Haas VF6 milling machines.
The Mazak VARIAXIS i-800 NEO is a simultaneous 5 axis machine, which can manufacture precision components in less operations, making it highly efficient and supporting improved productivity.
Having acquired its first 5 Axis Mazak machine when it moved to its current premises in 2010, this new machine will be installed in the company’s purpose-built facility in Team Valley so it can become quickly operational once the factory opens.
Three times the size of its existing base, the new facility will enable NTG to increase its presence in these key markets, most notably the defence industry and the production of components and tooling for the manufacture of electric vehicle batteries and electric vehicle power trains.
This expansion is part of NTG’s scale-up strategy, which began with a management buy out at the start of 2021 and included a significant investment from Ignite Growth.
In addition to its capital investments in equipment and premises, the company also recently acquired North East-based ABS Precision to expand the collective expertise and market coverage across the businesses.
Mike Hutchinson, group managing director of NTG Holdings Ltd, said: “As we gear up to move to our new facility, we are increasing our capabilities through programme of capital investments.
“This latest investment also highlights our commitment to increasing efficiencies and productivity, recognising our integral role in the supply chains of the industries in which we operate.
“As an early adopter of technologies that matches the capabilities often found at Original Equipment Manufacturers, we aim to remain at the forefront of precision engineering, meeting the increasingly complex and intricate requirements of modern manufacturing.”