A plastics specialist in Caerphilly is set to relocate to a larger unit in Ebbw Vale creating around 40 jobs in the future following a £1.7m investment from the Cardiff Capital Region's new £50m fund.
Pulse Plastics Limited is the first business to secure funding from the CCR's Strategic Premises Fund since its launch in January this year. The company will move to a 38,000 sq ft industrial unit on the Rassau Industrial Estate in Ebbw Vale as it looks to drive the next stage of its growth.
The investment aims to anchor the fast-growing business in its home region, in the face of stiff competition from locations in the Southeast of England.
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Pulse Plastics' managing director Matt Southall said: "Pulse has been championing green solutions in the plastics sector for 25 years and the move to this fantastic site on the Rassau Industrial Estate will ensure we continue for the next 25 years - helping clients such as Tata, ArcelorMittal and Vernacare address the serious impact of the Plastics Virgin Tax, and preventing materials going to landfill and incineration.
“Our current 18,000 square foot site in Abercarn has served us well, enabling us to become a leader in recovering, reprocessing and reusing plastics, manufacturing a wide range of products for use in different industries - and our new home on the Rassau Industrial Estate is the perfect place to grow further and radically transform our business ratios."
He added: "We will be futureproofing the business with further significant investment in renewable energy on the 5 acre site, bringing the potential for a substantial rise in production and reprocessing levels, and significant new job generation, with 20 roles being secured or created immediately.”
The Strategic Premises Fund, from the £1.3bn City Deal for the region made up of the 10 local authorities of south-east Wales, was launched to support regeneration, job creation and the acceleration of employment land schemes.
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The fund is being managed by CBRE's investment advisory team, part of CBRE Capital Advisors, which manages a number of other development funds across the 海角视频, including the North West Evergreen Fund, the South Yorkshire Pension Fund and the Northern Ireland Investment Fund.
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Funding will range from £2m to 15m with repayment terms of three years. As loans are repaid money will be reinvested into new projects with the aim of the fund becoming evergreen.
Blaenau Gwent Council leader Stephen Thomas said: "We enjoy a close and productive working relationship with CCR and thoroughly endorse the SPF investment in a business that is a key employer within the region - a local success story that is returning to Blaenau Gwent and quite rightly earning plaudits for its pioneering work in helping create a more sustainable world.”
Rob O’Dwyer, head of infrastructure for CCR, says: “This loan is a perfect example of what the SPF is for - supporting the delivery of new and refurbished employment space, facilities and premises, to maximise opportunities for growing businesses across the entire Region. I’m sure it’s the first of many SPF investments that will help drive indigenous growth, attract inward investment and strengthen confidence in our key sectors.”
George Richards, senior director investment advisory at CBRE, who manages the Strategic Premises Fund on behalf of CCR, said: "This is an excellent, ground-breaking investment in a target project that reflects CCR’s priorities across innovation, business growth and regeneration.
“The SPF is geared to increasing and accelerating private-sector-led development and site-specific infrastructure, and as the appointed fund advisor, we are keen to build on this success, shaping further investments to support businesses across South East Wales and boost the wider economy.”
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