Electronics giant Sony has secured a multi-million pound financial support package from the Welsh Government which it said will safeguard its South Wales operation as it looks to expand.
The Labour administration has provided nearly £500,000 to support Sony's Bridgend business through the pandemic as well as a £3m grant that helps underpin its long-term commitment to the manufacturing of electronic products including the Raspberry Pi computer, with the potential for expansion.
One of the largest employers in South Wales, Sony 海角视频 Technology Centre (海角视频 TEC) is the manufacturing and customer service centre for Sony in the 海角视频, and houses 29 related tenant companies.
The company also manufactures and produces camera equipment for the broadcast industry from the facility
Sony 海角视频 TEC has manufactured cameras for Sony group since 1999 and has supplied and serviced cameras that have been used for global sporting events including The Wimbledon Championship and the FIFA World Cup in 2014 and 2018.
The funding it has received from the Welsh Government’s Economic Resilience Fund will help protect hundreds of jobs, while the grant from the Economy Futures Fund will also help future proof manufacturing processes at the site.
The ERF, which is part of the Welsh Government’s £1.7bn plus support package for businesses impacted by the pandemic
Steve Dalton, managing director at Sony 海角视频 TEC, said: “We are always incredibly grateful for the continuous support we receive from the Welsh Government. As a large employer based in South Wales, we have a responsibility to provide and protect jobs within our local community not only in times of crisis, such as the global pandemic which we are currently facing, but also in times of prosperity.
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“The Welsh Government grant support which we recently received has helped us fulfil this responsibility and successfully safeguard the jobs of our existing staff. We also anticipate the grant will enable us to continue creating employment opportunities in the future as we further improve and expand our business.
“The funding is primarily to support the growth and sustainability of the Pencoed operation over the next three years, with Sony 海角视频 TEC looking to make some significant investment in its business operations. With the increase of electronic products and the growth of technological advancements in product design and manufacturing.
Sony 海角视频 TEC said it will be making significant investment in its surface mount process and automated manufacturing processes to maintain its position as a global brand leader.
Mr Dalton added:“ The investment will also help to support the growth of multiple business opportunities at Pencoed, including support for the growth in the Raspberry Pi business, where we are making over 6 million units per year at present, and the development of Sony 海角视频 TEC’s own prototyping business to support new product designs and help bring third party products to market.”
Minister for Economy, Transport and North Wales Ken Skates, said: “As we have done throughout this crisis, the Welsh Government is working tirelessly to support our economy through this pandemic, and helping to ensure good-quality, thriving businesses can continue to be good-quality, thriving businesses in our post-pandemic future.
“We know businesses want certainty so that they can plan and prepare, and that’s why just last week we doubled the third phase of our Economic Resilience Fund to £300m to support firms through the current firebreak and beyond.
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“Sony is a major employer to hundreds of people, and I am pleased we have been able to provide them with this crucial support which will protect highly-skilled jobs and ensure quality employment opportunities in the future too.
“We remain committed to doing all we can to drive our economy back to pre-pandemic levels of growth.”