The Deputy Minister for Skills, Jeff Cuthbert, today visited Celtic Recycling which has exceeded its initial growth plans and has taken on 29 new members of staff thanks to almost £115,000 funding from Skills Growth Wales.
The Welsh Government scheme aims to assist 200 companies to create over 3,000 jobs over a three year period.
The Deputy Minister for Skills said:
“Given the challenges that businesses are facing, particularly with growth and employment, it is encouraging to visit a company that has not only grown in the past year, but has also managed to exceed all expectations.
“It is because of the success stories of companies like Celtic Recycling that earlier this year I announced £30million to extend the Skills Growth Wales scheme.
“Celtic Recycling is a real success story which shows our targeted approach, identifying key businesses in priority sectors which have a credible plan for growth, is making a real difference.”
Celtic Recycling applied for funding during the development of its new facilities in Newport. The new £5million developments are unique within the UK and unrivalled in Europe. As a result they used the funding to ensure their staff had the required skills to support the company’s growth.
The company has since achieved an increase in turnover of 43 per cent (against a target of 23 per cent), an increase in profit of 51 per cent (against a target of 21 per cent) and an increase in employment by a total of 29 individuals (against a target of nine).