More than 250 automotive jobs in Pontypool have been safeguarded following financial backing.
Car parts manufacturer ZF Automotive UK has secured £267,000 from the Welsh Government’s Economic Resilience Fund, set up to supports firm hit by the economic fallout from the pandemic.
Jonathan Williams, plant manager of ZF Automotive UK which employs 257, said: “The impact of the Covid 19 pandemic to ZF Pontypool was dramatic and sudden. The site was closed for two months while we risk assessed our operations, re-organised factory layouts and put in place social distancing and PPE requirements.
Cash flow was paramount during this period, with significant costs remaining. Support from the Economic Resilience Fund was key in maintaining liquidity for the business and safeguarding the jobs of the 257 employees at the site.”
Economy Minister Ken Skates said: “The Economic Resilience Fund has been key to our efforts to protect companies, jobs and livelihoods from the severe economic effects of the virus.
“Since the beginning of the pandemic, we have provided a substantial package of support for Welsh businesses, delivered at pace, worth more than £2bn. This is the most generous offer of help for businesses anywhere in the UK.
“I am pleased it has provided crucial financial assistance to ZF Automotive UK Limited at a time when they needed it most and helped protect 257 important jobs.”
