An investment by Morgan Advanced Materials (Morgan) and the Welsh Government in the latest production technology at its Swansea facility.
The investment opens up opportunities to target the OEM market where demand is forecast to double in the next 2-3 years.
The investment includes a £1.4m funding package from the Welsh Government and is a strong endorsement of the facilities' 100 highly skilled staff. The funding package includes a £450,000 Property Development Grant to support the consolidation and reconfiguration of manufacturing on site and the remediation of some buildings.
Swansea will now retain production of two main product ranges that are used to link electrified wires to trains and overhead cranes as well as support functions including sales and technical and financial resources
Economy Cabinet Secretary Ken Skates said Welsh Government support was vital in securing this investment and described it as an extremely important project for the advanced materials and manufacturing sector in Wales.
“I am particularly pleased that our funding provided the catalyst that ensured this investment went ahead in Wales and that we were able to support the local management team.”
“It not only secures highly skilled local jobs and retains expertise within Wales but introduces new technology to the site. Morgan Advanced Materials spends around £600,000 annually in the local supply chain and this investment will also support jobs and businesses that create tangible benefits for local communities.”
Pete Raby, CEO of Morgan Advanced Materials said:
“Our decision to invest further in Swansea is underpinned by our strong local team who are helping deliver cutting edge manufacturing technology for our company and the sector. Supporting our local communities has and continues to be a priority and we are delighted that the investment will not only create new opportunities for the local community in Swansea but the Welsh economy as a whole”.
Welsh Government funding supports a capital investment programme that will result in a step change in technology, modernising the production process, generating significant cost savings, and increasing productivity and efficiency. It will also open up local sourcing opportunities for pre-milled raw materials.