Mona Lifting Ltd has arranged a £75,000 loan from Finance Wales — the Welsh Government’s investment arm — to help develop its operation in North Wales.
This comes four years after Finance Wales supplied its first loan to the company, which enabled it to relocate to the Anglesey Enterprise Zone.
Company director Robin Wyn Evans said: “With this second loan from Finance Wales, we have begun to construct a blast cleaning plant and industrial coating room, as well as more storage space. These additions will improve delivery times and allow us to increase our volume and turnover. We will be less dependent on out-sourcing work to specialists, which will provide significant savings.”
Portfolio executive Allan Jones, who structured the Finance Wales loan, said: “The loan from Finance Wales will not only improve facilities and reduce out-sourcing costs, it will also safeguard three jobs and lay the foundations for future job growth, as the company continues to expand.”