A METAL fabrication company bought out of administration five months ago has invested in new equipment and training.

Evenwood Industries has spent £400,000 on a laser cutter to help improve productivity and efficiency at its factory in Evenwood, near West Auckland, County Durham.

The company, which was rescued in a management buyout by directors Duncan McDonald and Stewart Maudsley in April, has also secured about £30,000 to fund a skills training programme.

The factory, originally known as Evenwood Engineering, manufactures a range of steel equipment for the off-highway sector, with customers including JCB and Caterpillar.

Yesterday, Mr McDonald said he was concentrating on achieving steady sustainable growth.

He said: "We have a good workforce, but we needed the right equipment and the right skills to move forward," he said.

"Since the buyout, we have stabilised the company and we are looking to strengthen our position in the UK. We don't want to run too quickly, we are looking for steady sustainable growth."

The company, which employs about 155 people, also secured about £30,000 through support provider Business Link to invest in training.

Mr McDonald said: "We are undertaking a large training initiative because we realised that the workers needed to be trained and their skills updated.

"Business Link provided the thick end of £30,000 for training in a range of areas including management skills, lean manufacturing and health and safety."