The Darlington Cleveland Bridge Company, founded in 1877, is known for its work on famous structures around the world, including the Sydney Harbor Bridge, Wembley Stadium and the Middlesbrough Transporter Bridge.
The company, which employs around 200 people, recently participated in the Testos roundabout modernization project on the A19 in South Tyneside.
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It has emerged that the company – which since 2000 has belonged to the Saudi Arabian group Al Rushaid – is in difficulty and is looking to find new owners.
The company was unable to confirm this information, but it is believed that a statement on its future could be released later today.
In April, Cleveland Bridge released its 2019 results, which showed a small loss despite a 30% increase in revenue to £ 48million.
The company highlighted problems with a major contract in Sri Lanka, but said it had a strong order book of over £ 76million, with further large UK orders expected.
In a joint statement, Tees Valley Mayor Ben Houchen, Sedgefield MP Paul Howell and Darlington MP Peter Gibson said: “Our number one priority right now is to ensure that the 200 staff at Cleveland Bridge and their families are supported in this difficult and uncertain time, and we will work with City Council and the Darlington government to ensure they get the support they need.
“Cleveland Bridge is a company with an incredible heritage that has pioneered some of the world’s most iconic structures, including the Sydney Harbor Bridge and the Shard skyscraper in London. The skills of its employees are second to none and have given the company an enviable worldwide reputation.
“The company has a full order book for the next 18 months, which, together with the history, expertise and highly skilled workforce of the company, makes us optimistic about the fact that a buyer will show up quickly for this iconic company. But it’s critical that local jobs are protected as part of any Cleveland Bridge purchase deal. “