Hundreds of jobs are to be created by a major employer after it secured a prestigious contract with a national utility company.
Landis & Gyr, which is based at the Northfields Industrial Estate, in Market Deeping, and makes meter systems for utility firms, will be seeking to recruit about 300 people over the next two years.
The move will double the size of its existing workforce at the site and comes after the 117-year-old company signed a £600 million contract with British Gas to supply about 16 million smart meters in customers’ homes.
Steve Cunningham, chief executive of Landis & Gyr in the UK, said: “It is fantastic news to secure a contract like this in a very difficult economic climate.
“We will be taking on people in a variety of jobs from research and development to production teams.
“It is a huge contract that stretches to 2020 - these will be jobs for the long term.
“But we are also hoping for further expansion as Germany and France move towards metering systems. We expect these markets to drive future expansion.”
Mr Cunningham said securing the contract had been the result of about four years work in which the firm had worked closely with British Gas and had invested in research to devise more efficient gas usage metering solutions.
By 2020 the smart meters will be rolled out as standard to homes and businesses across the country.
They will replace current gas and electricity meters and offer an in-home display showing how much energy is being used as customers are using it and the cost.
Meter readings are sent directly to energy suppliers, putting an end to estimated bills.
Chris Weston, managing director of British Gas, said: “Smart meters herald a new era for energy customers, bringing a transformation in the way they can manage energy use in their homes and businesses.”