A BLACKBURN engineering firm has been given the chance to compete with overseas markets thanks to a grant.

Precision Polymer Engineering Ltd, of Greenbank Road, has been awarded a grant for an undisclosed sum from the North West Development Agency, designed to help firms invest in new projects.

The grant will now let Precision Polymer invest in state-of-the-art machinery, which is being used by its overseas competitors, to help streamline production.

Bosses said the money would also help create new jobs at the company, which currently employs 148 people.

Peter Cloney, managing director of Precision Polymer, said: "We are a rapidly growing company which operates in niche markets around the world.

"As we export over 70 per cent of our product, it means we are generally in competition with large overseas multi-nationals.

"This is only achieved by state-of-the-art machinery and developing a highly trained workforce. The NWDA grant assists us to attain both these goals."

Peter Dobson, North West Development Agency selective finance for investment team leader, said: "Improving business performance in order to secure economic growth is a key priority for the NWDA."