The Welsh Government’s unique Economic Resilience Fund (ERF) is providing vital support to a global technology business based in Conwy county borough, Minister Economy, Transport and North Wales, Ken Skates, has announced.
Robertson Geologging Limited, headquartered in Deganwy, has received £51,000 from the ERF which is helping safeguard 40 jobs at the company and protect it from the severe impacts of the coronavirus pandemic.
The ERF, which is part of the Welsh Government’s £1.7 billion support package for businesses, is providing thousands of companies across Wales with significant financial support and complements the help provided by the UK Government. To date, more than 12,500 businesses have received financial support worth more than £280 million and the fund is known to have helped protect more than 75,000 Welsh jobs.
Robertson Geologging, which manufactures and exports geophysical logging products and services for environmental, geotechnical, engineering geology, mining, coal, and oil and gas industries world-wide, has used the support to continue operating through the pandemic.
Simon Garantini, MD at Robertson Geologging Limited, said:
“We are grateful for the support provided by the Welsh Government’s Economic Resilience Fund which provided much needed funding during the temporary freeze on nearly all business activity from the pandemic.
“The funds have been used to cover our fixed costs and the increased costs of operating due to coronavirus. This has helped enable the company to move its focus from crisis management to our core business activities of manufacturing and exporting our products and services throughout the world.
“This, in turn, has protected the jobs of our 40 employees, helping us maintain full employment throughout the crisis.
Minister for Economy and North Wales, Ken Skates said:
“We remain in incredibly challenging economic times, but throughout this crisis we have been clear we want good-quality, thriving businesses to continue to be good-quality, thriving businesses when the coronavirus pandemic is over.
“Robertson Geologging have worked throughout the pandemic and I am delighted we have been able to provide the company with the crucial financial assistance to do so. We have provided the support they needed, at a time when they needed it most, helping to protect local jobs.
“We deliberately designed our £500 million Economic Resilience Fund to plug gaps left by the UK Government’s package of business support. As a result, of all the UK nations, Wales has the highest percentage of businesses entering applications for coronavirus support. This is proof that our tailored support is working and reaching businesses, protecting thousands of jobs.