Consort Equipment Products, which manufactures high-quality energy-efficient heaters, is investing £1 million in the latest technology with the help of the Wales Economic Growth Fund, which has contributed £385,000.
The investment will be at its headquarters in Milford Haven, which is within the Haven Waterway Enterprise Zone. It will speed up production, boost capacity and open up new opportunities for increasing the contract manufacturing side of the business.
In addition to designing and manufacturing heaters, Consort’s light sheet-metal fabrication and manufacturing business supplies a number of leading businesses in South Wales. The company currently employs 85 people.
Managing director Ed Spankie (pictured left) said: “The first of three machines has now been installed — an advanced panel bender that allows us to fold much-larger metal sheeting at a much-faster rate, enabling us to tackle larger and more-complex work.
“We invested heavily in developing new products during the recession, as well as improving existing products. Over the last few years, we have increased our range to meet more niche markets, so we were in a good position when the economic recovery began, and our strategy is paying off. Our turnover increased by 10% last year, and we anticipate similar growth this year.
“This investment is hugely important for us; support from the Welsh Assembly government was absolutely essential and enabled us to go ahead. The equipment is the latest
on the market and will give us a competitive edge, help to reduce costs and increase efficiency — as well as safeguarding jobs.”