£350,000 boost for new high-tech Devon
manufacturing plant
01 February 2010
Major redevelopment plans by
a Devon-based microelectronics company are to be supported with an
investment of £350,000 by the South West RDA (Regional Development
Agency).
The Eurotech Group plc - one
of the leading manufacturers in printed circuit board (PCB)
technology and microelectronics - is building new high-tech
manufacturing facilities as part of a redevelopment of its site in
Salterton Road, Exmouth. The project will secure existing jobs at
the 100-strong site and the company is committed to creating an
additional five jobs, with the hope that more will follow over the
course of the project.
The South West RDA today confirmed its support
for the project with a £350,000 investment through its Grant for
Business Investment (GBI) programme. The cash will ensure the new
factory is built to high environmental standards, incorporating a
range of eco-friendly features.
Richard Hoskin, Business Investment Manager
for the South West RDA, said: “This is exactly the sort of
high-tech business and quality jobs that our region needs to build
on for its future economic growth and success.
“We are delighted that Eurotech chose to
reaffirm its commitment to manufacturing in Devon and that we have
been able to work closely with the company to ensure it had the
support it needed to make the project happen.”
The new facility, totalling 35,000 sq ft will
contain new and improved equipment including new plating lines and
will allow Eurotech to better match the requirements of capability
and capacity for future UK, European and worldwide customers.
The building will be built to BREEAM standards
and will feature a number of renewable technologies including rain
water harvesting and solar panels.
David Douglas, Finance Director for The
Eurotech Group, said: "I am very excited about this project which
will not only provide Eurotech with new premises but which will
also enhance the company's capabilities as a result of new
equipment. These are difficult times for manufacturing companies we
have a highly skilled workforce who will enable us to ride out
the recession. This business has been in Exmouth for nearly 50
years and is one of the largest and most important employers in the
area. I am sure that as a result of this investment it
will be here for many years to come. I would like to thank the
South West RDA for its involvement and also East Devon District
Council, who have also been very supportive."
Ends
Notes to
editors
1. The South West RDA leads
the development of a sustainable economy, investing to unlock the
region's business potential. It is helping companies respond to the
economic crisis and charts a course for recovery. The RDA is
developing or expanding initiatives which include: establishing a
Business Loan Fund, coordinating the response to large companies in
difficulty and preparing for economic recovery.
2. Grant for Business Investment (GBI)
offers grant support for sustainable business investment and job
creation projects in disadvantaged areas in England, and is part of
a suite of highly targeted, publicly funded products and services
known as Solutions for Business. The South West RDA delivers GBI
aimed at businesses of all sizes looking to invest in assisted
areas that need a grant to take their vision forward.
The scheme focuses support on high-quality, innovative,
knowledge-based projects that lead to long-term improvements in
productivity, skills and employment in South West England. The
majority of jobs created are expected to be at NVQ Level 2 and
above. Projects such as launching a new business, expanding
existing companies, introducing new technology into manufacturing,
or taking a new product from its early stages all the way through
to production will be eligible for support.