HTA Real Estate have advised PragmatIC Semiconductors with their acquisition of a new manufacturing facility at Meadowfield Industrial Estate close to Durham.
PragmatIC Semiconductor are a high-tech manufacturer of flexible electrical circuits that are thinner than a human hair. The company already runs a production line at nearby NETPark with the new North East manufacturing facility allowing an estimated doubling of its workforce, creating 125 highly skilled jobs by the end of this year. Work is currently underway to commission the FlexLogIC fabrication line which is expected to ramp up production to billions of circuits by 2023.
The investment is PragmatIC’s largest to date and will provide space for at least four additional production lines to support continued growth in demand for its products. The firm’s tiny circuits can be invisibly embedded in objects, meaning innovators can create novel solutions to everyday problems that conventional electronics cannot.
PragmatIC said the Durham facility will become “the nucleus of a worldwide network” for major international customers and that it intends to draw suppliers to the site.
Nick Atkinson, Director, HTA Real Estate said “ We are delighted to have worked closely with PragmatIC during this exciting phase of their growth and we are confident that the new facility will help the company achieve their goals”.