A family run engineering business in Tredegar is the first to benefit from the Welsh Government’s new SME Repayable Fund.
M&J Europe Ltd - one of the UK’s largest independent manufacturers of conveyor, transmission and timing belts – is investing £500,000 on an expansion project backed by £150,000 from the fund. This investment will increase manufacturing capacity at the site and support the creation of ten new jobs and safeguard a further eight. The company currently employs twelve people.
The fund, which is focused on supporting businesses within the Welsh Government key sectors, offers repayable finance of between £50,000 and £500,000 to SMEs and is designed to match project funding raised through private finance on the commercial market. It is designed to help small and medium sized businesses grow and create jobs.
Cabinet Secretary for Economy and Infrastructure Ken Skates said:
“The Welsh Government is committed to supporting Welsh SMEs and this new Fund is an addition to the current suite of business support available. I am delighted it is helping M&J Europe – an indigenous family run business - expand its operations and create very well paid jobs in the Heads of the Valleys area.”
The company which is based on Tafarnaubach Industrial Estate, will expand its manufacturing facility and adapt the premises to improve production flow, incorporate a dedicated R&D area and increase capacity to support a doubling of turnover.
Chris Garland from M&J Europe said:
“Accessing this repayable finance has given us the confidence to go ahead and expand the business, invest in new equipment and increase our output. It will make our manufacturing facility more effective and efficient which in turn means we can offer an even better service to our clients throughout the UK. We are also pleased to be creating new jobs in the area.”
M&J Europe specialise in material handling services and have extensive experience in the design, manufacture and commissioning of complete conveyor systems. The company also provide maintenance contracts and servicing agreements as well as a project management service for major capital projects.
The business originally targeted heavy extractive industries such as mining and quarrying but has since diversified to service a range of industries involved in food automation, printing, processing, recycling, pharmaceutical, power generation and packaging.
It designs bespoke systems to meet specific customer requirements including designing and manufacturing a range of products such as conveyor systems, bespoke machines, guarding, walkways and platforms for a wide range of Blue Chip companies including Abingdon Flooring, Braces Bakery, Rockwool, Wilkinson’s Distribution Centre, Siniat (Plasterboard Mills) and TRW etc.
It has also made significant investment in the development of a number of new specialist machines currently at the pre-production prototyping stage.
The company was also privileged to be requested to design and manufacture a plaque for Her Majesty The Queen and the Duke of Edinburgh on the official opening of the Works in Ebbw Vale.