A FISH-oil supplement firm is set to create 25 jobs when it completes a £14m deal for a mothballed Tees Valley plant.
Norway based TryggPharma is close to completing a deal for the plant formally run by fellow Scandanavian firm Lunbeck Pharmaceuticals at Seal Sands near Billingham.
The Danish firm pulled out of the plant, which had previously won a global award for its manufacturing technology, in 2008, switching production to two facilities in mainland Europe.
TryggPharma, a joint venture started last year by Aker BioMarine and private equity firm Lindsay Goldberg, which specialises in omega-3 fish oil for dietry supplements and drugs, said it expected the deal to be completed by July 1.
TryggPharma's vice president of Engineering Peter Harper said: "We are very impressed with the facility and the potential of the Teesside area to support the growth of our business going forward.
"The unit is relatively new and has received permission to make active pharmaceutical ingredients in the past.
"Its equipment and technology are a good fit for our processes and the local infrastructure is excellent.
"Furthermore the unit is in an international location that is easy to access from Norway, Europe, and our customers around the world."
The unit is expected to employ 25 within twelve months to restart facilities and scale up production.
TryggPharma's chief executive Aaron Kramer hoped that more jobs would eventually be created at the site.
Stan Higgins, chief executive of NEPIC (North East Process Industry Cluster), added "The whole process industry in the North-East will be celebrating this news.
"It's great for Teesside and for the pharmaceutical sector in particular to see another of our units back into operation."
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