Stephen Crabb: "Our innovative technology sector is helping to harness overseas investment and create jobs in Wales"
Israeli companies have today announced £3million of investment in South Wales and growth plans that could lead to up to 100 jobs being created and £13million being spent with local suppliers.
The announcements are being made as a delegation of Israeli businesses visit Wales to celebrate existing Israeli-Welsh trade and investment links, and to explore new opportunities.
The investment announcements are the result of close work between the UK Government (through UKTI Israel) and the Welsh Government. They include:
Newport-based SPTS Technologies – a Welsh anchor company and a global leader in the semiconductor equipment market – has announced that it has exceeded U.S. $1billion in exports. SPTS Technologies, owned since August 2014 by NASDAQ-listed Israeli company Orbotech, exports over 95% of its products to a global customer base. The $1billion export sales have been achieved since 2009, when the company was founded.
The company was awarded £4.6m Research Development and Innovation funding by the Welsh Government last year for a three-year project to develop the next generation of products for Advanced Packaging applications and place the company at the forefront of the industry. It will create 30 full-time R&D roles in Newport and result in an anticipated additional £13m spent with local suppliers over the term of the project.
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, anticipates another year of double-digit growth. Sapiens currently employs 240 people in the UK and is expecting to grow its Cardiff-based workforce substantially over the next 12months.
Amiad Water Systems, a leading global producer of water treatment and filtration solutions, has announced that it has chosen Swansea as the location of its first permanent base in UK. Over the past two decades, Amiad has supplied innovative solutions throughout the UK - from the Eden Project and the energy-saving zero-carbon Kingston Heights Project to providing effective Cryptosporidium protection in multiple waterworks. Amiad will be creating 5 – 10 new jobs in the first year with potential for further expansion. Through its engineering skills and ability to innovate, Amiad provides cost-effective sustainable solutions for the industrial, municipal, irrigation, oil & gas and ballast water markets in 80 countries.
Lordan UK has announced a £1million investment into its South Wales facility in Hengoed which manufactures high quality custom-made fin and tube heat exchangers for the global HVAC&R market. Lordan already employs 45 people at its Welsh operation and sees potential for further growth in the UK due to the developing needs of the UK economy.
Secretary of State for Wales Stephen Crabb said:
Our innovative technology sector is helping to harness overseas investment and create jobs in Wales.
Through the UK Government’s global trade network, international investors can see that Wales is an outward-looking nation and an attractive destination for business. Israel is a close friend of the UK and we enjoy an excellent trade relationship, built on decades of co-operation.
I want today’s announcements to be a catalyst for Wales to forge closer links with global markets and companies. This is a fantastic opportunity to show that we are open for business, open for trade, and open for investment.
Welsh Government Economy Minister Edwina Hart said:
I am delighted that Wales is proving to be such an attractive location for advanced technology companies from Israel and that we are seeing new investment as well as significant on-going reinvestment.
It is a strong endorsement that Wales provides the optimum environment for businesses to flourish and grow which is reinforced by the record number of inward investment projects from overseas companies that are choosing Wales above any other country as their location of choice.
The visit by senior executives from leading Israeli companies is most welcome as they explore new business opportunities in Wales and build on the growing links between our two countries.