Grant helps FM Coatings paint brighter future

An automotive sector painting firm is creating jobs after securing funding.

Boldon-based FM Coatings has secured a £50,000 grant from South Tyneside Council’s Business Growth Grant Scheme, which is funded by the Government through the UK Shared Prosperity Fund.

Bosses say the funding will go towards new machinery and tooling that will help the company compete for additional contracts, including a new opportunity with long-standing client Jaguar Land Rover.

They add the investment will help boost capacity and efficiency at FM Coatings’ site on Boldon Business Park, as the firm looks to expand its customer base and create up to 20 new jobs over the next two years.

Michael McNicholas, director at FM Coatings, said: “We are thrilled to have secured a grant from South Tyneside Council to support our latest investment drive.

“We have built a revered reputation over the past 30 years for our ability to meet the highest demands and providing the highest levels of paint application and finish, and this investment will be key to ensuring we can continue servicing our customers to such standards.

“It will also increase our competitiveness by opening up more revenue streams, which in turn could lead to the creation of up to 20 new jobs over the next two years as we continue to innovate and grow.

“There’s no hiding from the fact the automotive sector has, and continues to, face its fair share of challenges, and we are no different.

“Tariffs, rising inflation and uncertainty over electric vehicle regulations have all had a major impact on supply chains, but through this investment, we are ensuring we are best placed to meet the competitive challenges of today and tomorrow.”

FM Coatings, which employs 50 people, is one of several local firms to benefit from the council’s grant scheme, alongside businesses such as Metec, JC Events, 3Sixty3pl, Stellar Engineering and Red Stamp Productions.

Councillor Margaret Meling, lead member for economic growth and transport at South Tyneside Council, added: “FM Coatings is a real South Tyneside success story.

“Over the past three decades, the company has grown from a small business to an industrial powerhouse working with some of the world’s largest carmakers. 

“We are delighted we have been able to provide it with the funding required to support its future growth plans as it continues to invest in the borough and create jobs for local people.”

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