The Welsh Government is investing more than £30,000 in a Blaenau Gwent business which produces moulded plastic parts, creating jobs and safeguarding others, Economy Minister Ken Skates has announced.
JC Moulding Limited, which was set up in 2015, is one of just a few UK firms able to build moulds and manufacture low volume runs as required, saving customers upfront manufacture costs which can be substantial.
After submitting an application for funding, JC Moulding Limited will receive the £33,000 Welsh Government investment as part of a wider expansion plan, which will see it increase capacity and reorganise its production facility to improve product quality and delivery performance.
The company has recruited six staff members through Jobs Growth Wales, helping them achieve NVQs through the Young Recruits Program, and the funding boost will create 7 jobs and protect a further 4.
Economy Minister Ken Skates said:
“I am delighted the Welsh Government has been able to support this ambitious business, which has enjoyed strong growth in recent years and is providing good quality jobs in the area.
“Without Welsh Government action, JC Moulding Limited would have had to subcontract production for some current and all future sales to a company based in England, putting jobs at risk and leaving it unable to expand its operations.
“The investment further demonstrates our determination to pursue prosperity for all, empowering all our regions to become more productive. I look forward to seeing how the funding helps JC Moulding Limited achieve its ambitions.
JC Moulding Limited director Philip Marshall said:
“We welcome Welsh Government support for JC Moulding Limited, which has seen a sales growth of over 35 per cent in the past year. We have recently created seven new jobs and we will create a further 5000 sq feet of new factory production space to house new moulding capacity and warehousing.
“We are on track to expand sales by a further 15 per cent in 2019 and we will create another four new skilled jobs this year as part of this expansion.
“Our intention is to rapidly expand sales in export markets both Europe and USA whilst continuing to build established markets in the UK.
Business Wales is a service to support Welsh companies in sustaining and growing their businesses with a range of support from Business planning and finance to HR and resource efficiency. Further information is available at the Business Wales website or by contacting 03000 6 03000.