Dresser Mouldings Ltd, a Bolton, UK-based manufacturer of bespoke timber and wood mouldings, including fine wood carvings, timber columns and handrails, has received a £230,000 Grant for Business Investment (GBI) from the Northwest Regional Development Agency (NWDA).
Dressers Mouldings will use the grant to acquire the productive assets and workforce of the Rochdale-based Timbmet, a multinational timber provider and one of the company’s suppliers, which will save 22 jobs.
It will generate essential additional turnover for the company, which had recorded a 20% decrease in sales over the past 8 months due to the economic downturn.
Timbmet had already closed one of its Rochdale sites with the loss of 30 jobs.
Commenting on the award, Simon McDonald, Managing Director at Dresser Mouldings was reported to say: “The Grant enables Dresser Mouldings to continue its expansion to invest and maintain the skills needed in a forever changing manufacturing market.
“By securing this grant at a difficult time of trading, we are able to offer the necessary changes required to maintain a competitive edge in today’s market. Dresser, now have clear opportunities to compete with other suppliers and enables us to offer our business, the full manufacturing solutions by offering a one stop shop solution to its customer base.
“The manufacturing industry seems too ready to lose the skilled operators – without these operators, business opportunities will be lost forever. By securing the grant we have been given the opportunity to retain and grow these skills, along with a clear business incentive to invest also in new technology”.