Tyne & Wear

AEI Cables: Hundreds of jobs at risk at Gateshead firm

AEI Cables
Image caption AEI Cables in Durham Road, Birtley, Gateshead, has been running for 175 years

Hundreds of jobs are at risk at a cable firm which claims to be the oldest in the world.

AEI Cables in Durham Road, Birtley, Gateshead, which has been running for 175 years, has entered a 45-day consultation with all 240 staff.

The company could not say how many people might be made redundant and it could not rule out closing the site.

A spokesman said: "The company has been making significant financial losses for a long period of time."

He added it only continues to operate thanks to "the financial support and guarantees of its parent company".

"The company believes that profitability is possible only with a fundamental restructuring and a marked improvement in productivity," he said.

The firm has made cables for the Royal Navy, Manchester Airport, the White City complex and the Queen Elizabeth Hospital in Birmingham.

It said business would continue as normal and all orders would be fulfilled.

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