The shareholding and assets of Workington-based TSP Engineering have been acquired by GMET. John Coughlan CEO of TSP Engineering, will remain in charge of the future direction of TSP Engineering while also joining the Board of GMET Engineering.
The management team at TSP will stay in place to continue to grow and develop the business, building on the strategic plan put in place under John Coughlan when he first came to TSP. This strategy has already seen TSP grow and become an important part of the UK’s Nuclear and Defence Supply Chain.
The change in ownership marks an important milestone for TSP Engineering and GMET bringing the manufacture and delivery of Advanced Nuclear Modular Reactors or AMR’s from Cumbria to the Global market. The company believes this is an exciting time for Cumbria and the UK with the plan for AMR production commencing within the next 18 months. John Coughlan reminded us that TSP Engineering revealed its intention to be a manufacturer and supplier of New Nuclear Technology, AMR’s which was reported by In-Cumbria and on the front page of the Times and Star in August 2019 and the BBC in 2021. The announcement today of the change in ownership gives TSP Engineering greater independence and the required security to support our Nuclear and Defence customers delivering the operational growth to support the UK’s Defence and New Nuclear technologies such as the planned AMR’s.
TSP Engineering through GMET Engineering will become a strategic partner in GMET’s plans to support the development of small, nuclear reactors and be available to support our current/potential customers with their plans to build their reactor plants in Cumbria. With that in mind GMET and TSP Engineering projects will contribution to reducing global warming.
TSP Engineering today provides highly specialised infrastructure for nuclear use at Sellafield, as well as military components ultimately used by the MoD as well as equipment for other highly demanding customers and technologies. GMET intends that this work will continue and TSP will also expand to produce the Next Generation Nuclear Reactors.
TSP Engineering and GMET have plans to increase the headcount to 1000 people in support of its growth plans over the coming years, becoming a major support to its Civil and Defence customers and a major asset behind the UK’s drive to increase green energy becoming a positive support to the UK’s green economy through the manufacture and delivery of AMR’s. The growth in employment will come from increases in Design Engineering across all Engineering disciplines along with increases in manufacturing personnel across all engineering craft disciplines. This, coupled with increases in manufacturing personnel across all engineering craft disciplines, provides a great opportunity to work for a local company.
John Coughlan believes there is an exciting time ahead for TSP Engineering, GMET, its Supply Chain partners and the people of Cumbria. It will also support a significant contribution to reducing global warming.