Luxury car-maker Aston Martin (
www.astonmartin.com) has acquired the land for a new manufacturing facility in the Vale of Glamorgan (on a former MoD site at St Athan), where it will create 750 jobs and manufacture its new SUV.
Fit-out is expected to start in late 2017, and production is due to start in 2019.
CEO Andy Palmer said: “The exchanging of this contract, giving us first access to the St Athan facility, is a milestone in our 103-year history.
“Work now starts in earnest to turn our plans into reality. Since taking the decision to build our first SUV in Wales, we have been impressed by the commitment and approach from both the MoD and the Welsh Assembly government in making this project work.”
First Minister Carwyn Jones said: “We are delighted that Aston Martin has chosen to locate its new manufacturing facility here in Wales and that the land sale is now complete. Aston Martin’s move here is fantastic news for the Vale of Glamorgan and surrounding areas, and will provide a real boost to the local economy.”
Kerrigan Procter, managing director of Legal & General Retirement, which is supporting the project, said: “This is the latest example of our commitment to real asset investments that deliver good-quality long-term income and serve a meaningful role to the UK economy.”