Foredowel Ltd the overall engineering, fabrication and machining enterprise primarily based at Seaway Parade, Port Talbot has turned from tenant to landlord after buying the present enterprise premises after a £400,000 funding supported by Barclays.
Established over 41 years in the past, Foredowel Ltd now employs 12 employees and exceeds £1.2 million turnover. Initially established to supply website engineering providers to Port Talbot metal works the enterprise has now branched out into different areas comparable to structural steelwork, heavy responsibility and machine store engineering to be able to diversify earnings streams and supply important job safety to this household run firm.
Robert Jones, Managing Director of Foredowel Ltd mentioned:
“I began working at Foredowel once I was 16 and take nice satisfaction in persevering with the expansion of the corporate, that started with my father.
“With rising rental prices, it appeared logical to method Barclays to generate a funding package deal to buy the unit, after their assist in 2020 on a administration buyout.
“Investing and increasing publish Brexit and through a pandemic might sound unusual however we have now continued to develop, investing in new applied sciences and automation permitting us to fulfill these challenges head on. Buying the premises offers safety for the corporate and the staff and locations a priceless asset on the steadiness sheet. Win.. win.”
Sophie Shrimpton, Barclays Enterprise Supervisor, mentioned:
“As champions of native enterprise, it’s important that we assist native rising companies comparable to Foredowel Ltd that are so essential in native communities. Robert is third technology member of the family to work within the firm and understands the custom and duty that carries. By actually understanding the sector and the people concerned, we have now been in a position to create a funding package deal to assist the enterprise all through the acquisition.”
Stephen Kinnock MP for Aberavon mentioned:
“Companies like Foredowel are on the coronary heart of the local people offering expert employment and supporting the native economic system. It’s nice to listen to of a neighborhood household enterprise rising and increasing in difficult occasions like these, however due to the assist they’ve obtained from Barclays they’ve been in a position to construct on their success.”
Robert continues:
“We’re nicely positioned inside a rising market, with a loyal consumer base and have used the investments supported by Barclays to safe our future, retain priceless native jobs and diversify our providers provided. Operating a enterprise might be robust nevertheless it’s a pleasure to make use of a really expert workforce that holds the identical values and ideas as the corporate. We proceed to put money into new know-how and within the final twelve months added a brand new CNC milling machine & CNC Lathe, to enhance our typical handbook operations.
“We’ve got lately acquired a second unit, for our newly included sister firm to supply sheet Steel works together with CNC laser reducing & CNC folding. This funding has allowed us to take away the subcontract works on a big portion of our work and can enable us to supply this service to different engineering corporations in our native space”.
“I’m certain as Laser Profiling Restricted grows over the approaching years, Barclays shall be there to assist us”.
For additional info, go to www.foredowel.com & www.laser-profiling.com
