Tratos UK already operates from Knowsley, supplying mainly low voltage cables to the power distribution industry. Its intention is to expand into medium voltage cables as well as cables for the off-shore wind industry and for the UK's expanding railway network.
The Chrysalis loan of £3.5m will help the company to acquire an additional adjacent site for its expansion. The funding will also support the redevelopment and expansion of the production facilities on site. Overall, the project will deliver over 100,000 sq ft of new and refurbished manufacturing capacity.
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In addition to the Chrysalis funded redevelopment of the site at Randles Road, Knowsley Business Park, Tratos will make a major investment in state of the art production equipment. The project is subject to a Regional Growth Fund application and is regarded as a priority project by the Liverpool City Region Local Enterprise Partnership (LEP).
Robert Hough, chairman of the Liverpool City Region LEP said: "Advanced Manufacturing is one of Liverpool City Region's success stories. It represents an important opportunity for expansion and new growth that can be supported by the Chrysalis Fund. The Tratos UK development is a strong endorsement of our growth plans based on high value manufacturing in the Knowledge Economy."
(CD/JP)
