Consort Equipment Products which operates in a niche market manufacturing high quality energy efficient heaters is gearing up for a business boost as it invests £1million in the latest panel bending and fibre laser technology from Salvagnini.
The investment at its headquarters in Milford Haven - within the Haven Waterway Enterprise Zone - has been backed by £385,000 from the Wales Economic Growth Fund.
During a visit to the Enterprise Zone this week Economy Minister Edwina Hart said Welsh Government funding will help create thirteen new jobs and safeguard a further 37jobs. Consort currently employs 85 people.
The company serves the top end of the market with an extensive range of heaters that are sold through electrical wholesalers throughout the UK - and more recently in China.
The £1million investment in the most technically advanced machinery available 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.
MD Ed Spankie said:” The first of three machines has now been installed, a Salvagnini Panel bender with an automatic tool change system enabling “zero set up time between jobs and also allows us to fold much larger metal sheeting at a faster rate, enabling us to tackle larger and more complex work and offer a more diverse and efficient bespoke service to our customers.
This will be followed later in the year with the installation of a Salvagnini Fibre laser with automation, enabling us to run “lights out” if required. This latest technology Laser will give much faster processing times and reduce the power consumption by 75% compared to our old CO2 Laser. “We invested heavily in developing new products during the recession as well as improving existing products and over the last few years have increased our range to meet more niche markets. It meant we were in a good position when the economic recovery began and our strategy is paying off as turnover increased by 10% last year and we anticipate a similar growth this year.
“This investment is hugely important for us and support from the Welsh 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 reduce costs and increase efficiency- as well as creating and safeguarding jobs.”
Economy Minister Edwina Hart said: “Consort’s increased sales illustrate the importance of investing in research and development and bringing new innovative products to the market. I am pleased the Welsh Government is helping the business continue to grow and supporting its investment in new technology which will help create and safeguard jobs in the Haven Waterway Enterprise Zone .”
The company has also developed a completely new range of panel heaters for the Chinese market on behalf of one of their clients with Consort’s products and factory successfully undergoing all the Chinese accreditation and quality approvals.
In the last eighteen months 3000 heaters have been sold to China and Consort is currently developing new products for this market.