Welsh Government investment has supported Llanberis-based DMM Engineering to grow and give a boost to the local economy, Economy Secretary Ken Skates has said following a visit to the company.
DMM Engineering was founded in 1981 to manufacture mountaineering and industrial safety products and at the time had four employees. Since then DMM has experienced steady and sustained growth and now employs more than 190 people with a turnover of over £12.5 million and exports accounting for more than 60% of the company’s sales.
The Cabinet Secretary visited DMM yesterday to celebrate the completion of their investment in a state of the art CNC machining facility which is a key part in extending and improving their manufacturing capability.
Welsh Government support has enabled DMM to invest over £2.5 million in plant and buildings in the last five years and seen the workforce grow from 150 to 195 employees.
DMM’s C.E.O. Richard Rust said:
“Despite uncertain times, as a Group we are continuing to invest in expanding our factory capacity & capability. The fantastic support we have received from the Welsh Government has enabled us to grow our turnover by more than 25% and, more importantly increase our employment levels and skills.”
DMM continues to grow and each year the percentage of goods manufactured at their Llanberis factory increases. Ten years ago, around 50% of sales were exported to 41 countries, DMM now sell into 55 countries.
Economy Secretary Ken Skates said:
“DMM Engineering is a real success story and I am pleased Welsh Government support has enabled the company to grow, make a significant contribution to the local economy and continue to reach out to a worldwide market.
“Our new Economic Action Plan ensures we will support high value manufacturing companies such as DMM who commit to growth, fair work, and up-skilling their work force. It offers a simplified, unified and competitive package of support for companies who commit to our economic contract ready to meet the challenges of tomorrow.
“A key part of the plan is the approach to developing regional economies such as North West Wales to ensure prosperity falls more evenly across Wales.
“I congratulate DMM on their success to date and wish them well for continued growth going forward.”