South Wales Recycling Business Coming of Age
6 April 2011, News release from Celtic Recycling Limited
A South Wales company specialising in the recycling and recovery of end of life heavy electrical equipment has marked its 18th birthday with a £3m investment in a state-of-the-art facility in Newport.
Celtic Recycling Ltd is to create at least 15 new highly skilled jobs at its new site in Queensway Meadow Industrial Estate in Newport in a bid to meet its future growth plans. Celtic Recycling, with an existing operation in Bridgend, provides a 'total package' approach for the electricity utilities sector and other major blue chip clients, competently managing all health, safety and environmental risks associated with plant decommissioning.
The investment in the new larger site at Newport is being funded by Barclays Bank, Finance Wales, UK Steel Enterprise and the management team's own investment.
The package also includes a £350,000 grant from the Welsh Assembly Government and the whole funding package was negotiated with the support of professional advisors Broomfield & Alexander, who also helped the company with business planning and forecasts.
The company was established by joint shareholders Keith James and Steve Bishop who have substantial experience in the sector.
Managing Director of Celtic Recycling, Keith James, said:
"We are absolutely delighted with our new investment in Newport. We've grown significantly in recent years and continue to service our clients across the UK. We also export significant recycled metals in an increasingly global market. Our new unit will give us all the space, equipment and people we need to expand.
"The current climate for both bank and grant funding means that the processes were more complicated. Broomfield & Alexander's support enabled us to concentrate on continuing to run our business, which has contributed to the success of the expansion. In addition, the funding package had a number of different elements, each with their own terms and conditions and their advice helped us get a better deal."
Broomfield & Alexander director Seamus Gates said there were many excellent companies in Wales like Celtic Recycling whose expansion was only held up by the fact that they did not have sufficient funds.
"These firms are ideal candidates for investment," he said. "In Celtic Recycling's case, the funding is key to them being able to progress their ambitious project.
"They will now be better placed to attract new high quality staff and, most importantly, new major international clients who will perceive Celtic Recycling to be at the leading edge in their sector."
For further information please email Celtic Recycling Limited