Trojan Electronics set to create 138 jobs with Welsh Government support
(M2 PressWIRE Via Acquire Media NewsEdge) A two phased support package from the Welsh Government will enable Trojan Electronics to create 138 jobs -- almost doubling its workforce in the Swansea area - and help bring an empty building into employment use.
The 2.1million investment by the Welsh Government includes a 1.5m property development grant to Gracelands Investments Limited, advised by Richard Hayward Properties, for the refurbishment of the 180,000 sq ft Kings Dock Building on Ffordd Amazon off Fabian Way - and 625,000 business finance to Trojan Electronics towards the bespoke fitting out of a new 156,000 sq ft headquarters within the property.
Work has started on the refurbishment, which will include creating 17,000 sq ft of air-conditioned offices as well as a large production facility, service yard plus parking, landscaping and access roads. It is anticipated that Trojan will take occupation early in 2015.
Trojan has undergone a period of rapid growth and currently operates from seven industrial units on two sites in Swansea which are at full capacity. The relocation and consolidation of its operations into a single modern refurbished facility will reduce costs, increase efficiency and provide room for growth.
Trojan, which is investing 1m in new plant and equipment and back office systems, has three main areas of activity -- it provides a repair & refurbishment service for products returned under warranty to major retailers; operates multi-channel ecommerce platforms for blue chip companies and manufactures printed circuit boards for a variety of customers in differing industries and for various applications.
Announcing the funding Economy Minister Edwina Hart said:
"This innovative support package is a prime example of how the Welsh Government is supporting business growth. The refurbished building will create the environment for Trojan Electronics to operate more efficiently while ensuring it has space to expand to meet the projected increased demand for its services.
"The investment is not only creating a significant number of new jobs in one of our key sectors but also secures the future of the business. I am also delighted that Richard Hayward Properties is refurbishing an important industrial building and bringing it into employment use, helping to regenerate the area and ensuring Trojan Electronics has a sustainable long term future in the region."
Trojan Electronics Finance Director Malcolm Rash said:
"This is a hugely important step for us and the largest investment made since the company started in 2002. We look forward to re-uniting all our operations and staff into one location and gearing up to meet the growing demand for our services in the UK and Europe. We are very grateful for support from the Welsh Government which enabled this to go ahead and look forward to expanding and creating new jobs in the area, through achieving higher levels of efficiency and profitability."
South Wales based investor, developer and asset manager Richard Hayward Properties, has a strong track record of delivering large scale commercial properties across the region.
Richard Hayward, principal of Richard Hayward Properties, said:
"This is highly significant news for Wales. The letting of this space to Trojan is one of the largest deals completed in the Swansea area in recent years. And, it marks the start of the latest phase of the regeneration of the former Visteon site. It's fantastic to see that this building will be brought back into use and occupied by an exciting and successful local business that will create so many new jobs."
Trojan Electronics, which had a c 10m turnover in the last financial year, has identified opportunities for growth particularly in its contract manufacturing activities and its e-trading platform as more and more companies find it more cost effective to outsource their e-tail activities.
The company is investing in new equipment for handling and storage plant for effective pick pack and despatch and upgrading its computer systems to cater for increased levels of web based business. Trojan Electronics has developed its own software system and is recognised by eBay as one of the premier full service e-tailing organisations.
(c) 2014 M2 COMMUNICATIONS
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