TUBE manufacturer Corespec has completed a £250,000 investment in its premises two years ahead of schedule.

The company, located at the Greencroft Industrial Park in Annfield Plain, is already the fourth largest independent tube manufacturer in the UK, and this investment has been brought forward to ensure the company can continue to meet the growing demand for its products.

Corespec manufactures cores for a variety of applications. They are used in the paper, plastic film, textile and flooring industries across the UK.

The company now boasts the most modern plant in the country following the installation of an additional computer-driven spiral tube winder.

Derwentside Industrial Development Agency (Dida) advised Corespec as a start-up business.

It has also helped to put together the investment package, which includes support from UK Steel Enterprise and the North-East Investment Fund. Company directors Gordon Gregory, Brian Hodge and Martin O'Shea have a total of more than 35 years experience in the industry between them.

Mr Gregory said: "Our aim is to be the largest independent manufacturer in the UK.

"We have steadily increased our market share and this investment has come two years ahead of our projections."

He added: "Dida's continued help and support with this latest investment has been invaluable.

We have also had the 100 per cent backing of our skilled workforce and loyal customers.

"The next step will be larger premises to keep pace with customers increasing demands."

Steve Armstrong, Dida's business advisor, said: "Corespec has gone from strength to strength in a competitive market dominated by multi-national companies.

"We are very confident that, following this latest investment, the company will continue to build on its success."