Pumping in cash seals deal

Leader of Oldham Council Jim McMahon (centre) with Nov Mono group managing director Paul Naylon (left) and his replacement Steve Valentine

A £3 million grant has secured an internationally recognised firm’s future in Oldham and paved the way for its expansion.

Oldham Council and Mono, part of the National Oilwell Varco group, are celebrating a major deal that forms the final piece of Mono’s £20 million move from Audenshaw to a new, larger home at Greengate in Chadderton. The expansion could potentially see up to 1,000 jobs come to the borough.

The Greater Manchester Investment Fund has confirmed the industrial pump maker has been given a vital grant from the Government’s regional growth fund.

The Chadderton site was formerly home to BAE Systems’ famous aircraft manufacturing operation, which closed last year.

Oldham Council leader Councillor Jim McMahon said: “This is fantastic news for Oldham and for the regional economy. It was vital that a firm of the stature of Mono Pumps wasn’t lost to the local economy. We have worked extremely hard behind the scenes to get this deal.”

Paul Naylon, former managing director of NOV Mono, said: “We’re delighted; it demonstrates what can be achieved through cooperation. Oldham Council told us at the outset they were keen to work with us and they have been as good as their word.

Mr Naylon is due to retire from the company, to be replaced by Steve Valentine.