Aluminium component supplier CastAlum will invest £5 million in its aluminium casting plant IN Welshpool, Powys. The expansion will allow the company to expand production capacity.
CastAlum, which supplies car brands such as Porsche, Mercedes, and BMW, will install two new, state-of-the-art manufacturing cells at its plant. This will create employment opportunities for 116 people.
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Welsh Government’s SMART Innovation programme offers technical support for a number of projects. The Government’s SMART Cymru fund worth £100,000 has been co-invested in new technology.
Peter Radcliffe, chairman of CastAlum Ltd, said: “Despite all of the adverse news surrounding the pandemic over the last 12 months we have been working hard to secure long term future business for Castalum and Welshpool.
“Our financial supporters have been able to give their assistance towards developing a confident, forward looking future, for our long established plant in Welshpool.
“The new contracts won give us certainty over at least the next five years as we continue to develop the scope of our business into new sales outlets. Alongside the new business we are also developing industry leading technologies to support the quality and application needs of our customers.”
Minister for Economy, Transport and North Wales, Ken Skates, said: “As a government, we want to see our businesses grow, succeed and flourish in an economy that is more prosperous, fair and green than ever before.
“I am delighted our support is helping to strengthen the business landscape in Welshpool and creating so many highly-skilled jobs at CastAlum. Today’s news is a welcome boost to the local economy and a real show of commitment in the workforce and the area.
“We are committed to supporting Welsh businesses as we rebuild and reconstruct our economy and our support for CastAlum demonstrates that.”
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