Chatteris firm secures major investment
PUBLISHED: 17:26 08 April 2014 | UPDATED: 17:26 08 April 2014
A Fenland manufacturer has secured nearly £1m investment to develop its work in the civil nuclear supply chain over the next three years.
Stainless Metalcraft, which is based in Chatteris and employs 162 people, has secured the funding from the Civil Nuclear Sharing in Growth (CN SIG) programme.
The scheme is a Government-backed programme to boost the UK’s civil nuclear supply chain following a three-month assessment period.
The company already manufactures vessels, tanks and heat exchangers for nuclear clients including Sellafield and Rolls-Royce.
It will now put in place a programme of investment and training to develop its offer, positioning the business to take advantage of growth across the civil nuclear sector.
Austen Adams, managing director of Metalcraft, said: “The initial assessment identified a number of areas of strength across the business and we are already taking steps to maximise these, as well as working to strengthen areas of our business where there is potential for real improvements.
“By approving this investment, the CN SIG Board has not only actively recognised our potential to become a significant player in the UK’s nuclear industry but has also demonstrated its confidence in our team to deliver results.
“With Government policy clearing the way for investment in new civil nuclear energy plants, we’re excited by the potential to develop our position in this important market, creating valuable training and employment opportunities for local people as we do so.”
Stainless Metalcraft is now working with the CN SIG team to implement a bespoke programme of training and investment at the site.
Running until the end of 2017, it will help investment in new technology, processes and equipment, as well as essential skills development across every level of the business.