A Carmarthenshire company that accessed Welsh Government support to help ride the recession is now expanding with help from the Economic Growth Fund.
Morgan Marine Ltd, a UK leader in the manufacture of Glass Reinforced Plastic (GRP) enclosures, accessed Welsh Government ProAct funding at the height of the recession to invest in staff training, R&D and new product development.
In the last three years the company has seen its turnover increase from £11million to £18million and is now embarking on a £400,000 expansion at its seven acre HQ site in Llandybie to meet an anticipated 10 per cent growth by the end of June 2014.
With £100,000 support from the Welsh Government Economic Growth Fund, the company has begun building new offices and meeting rooms at its Llandybie site to accommodate ten additional members of their sales and design teams that will be recruited to accommodate the company’s expansion into new markets.
Economy Minister Edwina Hart said: “It’s good to hear how the Economic Growth Fund is supporting businesses across Wales to invest and expand to make the most of opportunities in the market as they arise.
“Morgan Marine is a key employer in South West Wales and a market leader in its field with its products used around the world, so I am delighted to see it is benefiting from Welsh Government support and creating new jobs and winning new orders.”
Morgan Marine Ltd is part of the Morgan GRP group which employs 227 people and has facilities in Swansea and Baglan. The company designs, manufactures and installs Glass Reinforced Plastic (GRP) and steel enclosures for the rail, water, power generation, telecommunications and oil & gas markets worldwide.
Morgan Marine, along with its sister company PSF Wales Ltd, has developed a comprehensive range of LPCB (Loss Prevention Certification Board) security rated products designed to protect critical national infrastructure against terrorist and vandal attacks. They became the first company in the UK to achieve the prestigious LPCB standard for GRP Housings allowing them to offer industry a choice of build materials for the first time.
Morgan Marine Ltd is currently working alongside Babcock on the prestigious Network Rail Telecommunications (NRT) FTNx programme. FTNx is NRT’s flagship technology programme, designed to establish a new generation UK wide, IP and optical networks in support of Network Rail’s commitment to the delivery of efficiencies to the rail industry, via the introduction of new technology.
Morgan GRP Group Managing Director Martyn Ingram said: “Welsh Government support for our expansion is considerably important, as it enables us to go ahead immediately with our new build and refurbishment plans, ensuring that we can meet the increasing demand for our products while both creating and safeguarding jobs.
“We have experienced a period of significant growth and this summer recorded our strongest month of trading in our history. Thanks to the support of the ProAct Programme we were able retain vital staff and invest in skills development and R&D during the recession, which has been a major factor in our growth.”