South Wales Evening Post reported that a long established Swansea Valley engineering firm is looking to expand after a year in which profits increased 80%.
Wall Colmonoy, which makes nickel alloys for coating and brazing, is looking to revamp and extend its site at the Alloy Industrial Estate in Pontardawe. The firm employs 185 staff and saw its profits jump from GBP 1.598 million in 2009 to GBP 2.889 million in 2010. It has now applied for planning permission to increase its production area and office space.
A spokesman for the firm said that “The present factory is inadequate to allow for the intended expansion of the business.”
Wall Colmonoy was one of the initial occupiers of the industrial estate and has been in the same location next to the town centre for 42 years. Its main trade is through hardening metals in order to improve their mechanical performance.
The company has admitted in its application to Neath Port Talbot Council its existing buildings on the site are nearing the limit of expansion. It has bought other sites on the industrial estate to support its long term expansion.
Wall Colmonoy issued a statement on its performance in 2010 earlier this year which confirmed cash flow improved significantly as the industrial sectors supplied by the company continued to recover from the downturn two years ago. It pledged to invest in personnel, plant and machinery in order to sustain profitable business growth.
In the year to December 31st 2010, Wall Colmonoy invested GBP 850,000 in the development of metallurgical and coating treatments. This was significantly up on GBP 465,000 in 2009 when the company was reeling from exceptionally adverse business conditions in the manufacturing industry in Europe and worldwide.
Wall Colmonoy has received GBP 2 million in grant funding from the Welsh Government to support its expansion which could see 100 jobs created over the next four years.
Mr Peter Hain shadow secretary of State for Wales and Neath MP praised the firm in November 2010 and said that “Wall Colmonoy has a long and successful history in Pontardawe, going from strength to strength to become a world class company. It is a tribute to the local workforce that such a successful global company is not only located but is expanding, creating more highly skilled jobs.”
Mr Bethan Jenkins AM for South Wales West said that “Time and again, the Pontardawe factory has shown itself to be a beacon business.”
(Sourced from www.thisissouthwales.co.uk)