A MOTOR parts company has revealed plans to invest £8m in the business over the next three years, creating 100 jobs in the region.
North-Eastern Tyre and Exhausts is also planning to increase turnover by 50 per cent, from £40m to £60m.
The company, based in Middlesbrough and Silverlink, North Tyneside, is planning to open a series of outlets to add to its existing seven centres across the region.
The company is also re-branding to increase its focus on retail. A separate division, NE Wholesale, will be created alongside the main North-Eastern Tyre and Exhausts brand.
Gavin Marshall, managing director, said: "The aim is to raise turnover from £40m to £60m, and to create 100 jobs over the next three or four years. But we are looking at developing the business strategically, with careful planning.
"As well as growing the business where we can over a period of time, we want to protect the jobs that are there already. It's not about chasing a turnover figure, it's about being careful. The objective for us is to be profitable, to increase our operating profit and to reinvest that into the business and our people."
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