Linked with a project by South Korean electronics manufacturer Samsung to set up a £ 450m electronics complex in Cleveland/UK, one of its plastics component suppliers, Young Shin, is negotiating to set up an injection moulding plant on the former Haverton Hill shipyard site near Billingham, creating 150 new jobs. The £ 2m plant will produce TV housings for Samsung but, in fact, the plan to build in the UK had been agreed by Young Shin before the news of the new Samsung project.

Samsung already has a smaller (£ 10m) TV plant in the Billingham area, which was the original reason for Young Shin's interest. The local authority, Cleveland County Council, is expecting to contribute £ 150,000 to the plastics project. Samsung – which is the largest enterprise in South Korea – is also building a $ 120m colour TV tube factory in Berlin/Germany and has a semiconductor assembly plant in Portugal. It is also building a $ 16m excavator plant in the UK, in Harrogate.