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08/10/2015
Glass Tech Creates 27 Jobs In Swansea
A total of 27 new jobs have been created with the opening of the largest glass processing plant in Wales. The facility, which is based at King's Dock in Swansea, has received a £1.9m investment package from the Welsh Government, Finance Wales and a consortium of private investors.
Established in Llandarcy in 2011, Glass Tech Recycling (Glass Tech) has utilised the funding to move to a larger site at King's Dock and created the additional jobs.
The new plant includes a state-of-the-art glass processing unit which will allow the company to convert glass into high-value glass cullet , which it can then sell to manufacturers as a cost-effective raw material.
Welcoming the investment, Economy Minister Edwina Hart said: "I am delighted that Welsh Government funding has supported Glass Tech's expansion plans, enabling it to increase its capacity and capability and securing its long-term viability.
"Working in one of our key sectors, Glass Tech's investment in the latest technology will ensure it retains a competitive edge, enabling it to access new and expanding markets in the UK and overseas while also supporting Welsh Government recycling targets."
Karen John, Managing Director, said: "Moving to a larger site has enabled us to install the equipment we need to target lucrative new markets and we now have Wales' only reprocessing unit capable of making pure glass cullet. By being based in King's Dock we can easily export our product to manufacturers overseas as well as to the UK.
"The glass cullet market is central to our long-term growth and the funding package from Finance Wales, Welsh Government and private investors has allowed us to build it into our business model. We're forecasting strong growth in the coming year and hope to open a second site in 2016."
A support package of £320,000 from the Welsh Government's Economic Growth Fund partly funded the expansion of Glass Tech, while Finance Wales provided a £500,000 equity and mezzanine package for Glass Tech.
(JP/CD)
Established in Llandarcy in 2011, Glass Tech Recycling (Glass Tech) has utilised the funding to move to a larger site at King's Dock and created the additional jobs.
The new plant includes a state-of-the-art glass processing unit which will allow the company to convert glass into high-value glass cullet , which it can then sell to manufacturers as a cost-effective raw material.
Welcoming the investment, Economy Minister Edwina Hart said: "I am delighted that Welsh Government funding has supported Glass Tech's expansion plans, enabling it to increase its capacity and capability and securing its long-term viability.
"Working in one of our key sectors, Glass Tech's investment in the latest technology will ensure it retains a competitive edge, enabling it to access new and expanding markets in the UK and overseas while also supporting Welsh Government recycling targets."
Karen John, Managing Director, said: "Moving to a larger site has enabled us to install the equipment we need to target lucrative new markets and we now have Wales' only reprocessing unit capable of making pure glass cullet. By being based in King's Dock we can easily export our product to manufacturers overseas as well as to the UK.
"The glass cullet market is central to our long-term growth and the funding package from Finance Wales, Welsh Government and private investors has allowed us to build it into our business model. We're forecasting strong growth in the coming year and hope to open a second site in 2016."
A support package of £320,000 from the Welsh Government's Economic Growth Fund partly funded the expansion of Glass Tech, while Finance Wales provided a £500,000 equity and mezzanine package for Glass Tech.
(JP/CD)
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Northern Ireland WeatherToday:Storm Bert will move east through the Northern Isles today. Though weakening it will still bring strong to gale winds to many in Northern Ireland and showers to all, these frequent, occasionally heavy across northern districts. Maximum temperature 10 °C.Tonight:Strong west to northwest winds easing overnight. Showers, most frequent during the evening and in north but dwindling overnight to leave most dry and bright come dawn. Minimum temperature 1 °C.
