A construction company which is working on the Wembley Stadium project has announced 30 new jobs for Teesside after acquiring a fellow competitor.

Cordell Group, based in Stockton, has acquired steelwork design, fabrication and construction company Structures (Teesside) Ltd.

Structures will now be called Structures Teesside (Cordell) Ltd.

David Rush, managing director of Cordell Group, said: "This business is complimentary to Cordell's multi-disciplined design, fabrication and construction business and will operate under the umbrella of the Cordell Group.

"With a total 6,000 square metre structural fabrication capacity, Cordell will be a pre-eminent regional structural solution provider."

Already working closely with Cleveland Bridge on the Wembley Stadium project and with Alcan on the High Amperage project, Cordell Group are hopeful in securing further work within the power generation and oil and gas markets, to provide security for the additional 30 workshop personnel.

Mr Rush said: "In today's shrinking markets, bold and innovative steps are needed to keep pace with demands for comprehensive and cost effective quality services.

"The prevailing tough economic climate is driving consolidation in the marketplace and is forcing SME businesses to think hard about their futures.

"We anticipate further shrinkage of the market and are strategically placing ourselves to make the most of acquisition opportunities yet to emerge, in order to strengthen our position as the leading private engineering design and construction business in the region."