The Tata Steel Subsidiary That Invests In Businesses Has A New Boss In Wales
22 September 2016
UK Steel Enterprise (UKSE), the business investment fund subsidiary of Tata Steel, has appointed Glyn Thomas as its area manager for Wales.
(UKSE) plays an important role in supporting the economy in former steel areas in Wales and the rest of the UK, by investing in businesses, as well as developing and running business accommodation.
The organisation , which has been operating in Wales and around the UK for 40 years, is part of the taskorce working with other agencies in Port Talbot to deal with the effects of long term structural changes to the steel industry.
Mr Thomas said: “I am pleased to be taking up this role, and I look forward to working with businesses and business organisations to support the Welsh economy in these rapidly changing times.
“Through our investments, working with other funders, we support companies we believe have the ability to create quality, sustainable jobs for the future. We also provide prestigious, flexible accommodation for companies with growth potential on easy-in, easy-out terms.”
He moves from investment executive, a role he has held for the last eight years, making strategic investments in Welsh businesses.
In the last year, UKSE provided £2.5m in loans and equity to businesses in the UK, creating 270 new jobs.
These included six-figure sums advanced to BCB International of Cardiff and Contract Services of Port Talbot, both Welsh businesses with ambitious growth plans to create local jobs.
UKSE owns and runs two business locations in South Wales - Cardiff Bay Business Centre and Ebbw Vale Innovation Centre, both of which have been the focus for significant investment in recent years.
The centres are home to 97 businesses, and are proving successful incubators for companies.
Some £1m has recently been invested to upgrade Forgeside House, part of Cardiff Bay Business Centre, and many new businesses are moving in, and existing tenants returning.
Mr Thomas, from Cowbridge, began his career as a banker with NatWest, and then moved to business support organisation Business In Focus in Bridgend, before joining UKSE.
Source : walesonline.co.uk