BBI Group announce £14m investment to boost capacity and long term growth
BBI Group today announced a new £14m investment plan for 2017 which will include a new global HQ and manufacturing centre of excellence for the company in South Wales.
The announcement takes the company’s overall investment to approximately £20m across 2016 and 2017.
The plans – supported by a £1.8m grant from the Welsh Government – will see BBI Group move to a new 120,000 sq ft headquarters at Crumlin, Caerphilly with excellent links to the M4 corridor and Cardiff International Airport.
The investment will aim, following consultation and internal business review, to consolidate BBI Group’s existing operations in Blaenavon, Cardiff and Dundee, providing improved manufacturing and enzyme production facilities to serve the global diagnostics and healthcare marketplace.
CEO Lyn Rees said;
“This investment represents a significant step towards realising our strategic plans to 2019. Through investing in our manufacturing footprint we are increasing our capacity to support long term growth and we are excited to pass these benefits on to the local and national economy.
“The investment will put BBI Group ahead of the market competition, as we will develop and produce our products in an enhanced clean-room environment and to the highest European and US regulatory standards.
“It will also give us the pedigree to compete more effectively in our expanding markets in Europe, USA and China.”
With Welsh Government and local authority backing, the investment also aims to create around 50 new positions up to 2020. This will provide excellent career opportunities in the South Wales Valleys region, foster closer links to the scientific and academic community, and provide a significant boost for the local economy.
Economy Cabinet Secretary Ken Skates welcomed the news today and said:
“BBI Group is a made-in-Wales success story; a highly successful company and a strategically important player in the life science sector globally.
“I am particularly pleased WG support helped secure this significant investment for Wales. Founded in 1986 as a Cardiff University spin out, BBI Group has grown to become a £60m turnover company and this expansion project will secure the company’s long term sustainable future in Wales.
“It will not only create and safeguard a significant number of high quality jobs but will also support the local economy through an annual spend of more than £1m with supply chain companies. In addition, the fit out and alterations of the building will support around 75 FTE jobs in the construction industry.”