Marine engineering firm Feritech to expand with new Falmouth plant
Feritech received a grant from the BIG Productivity Fund to purchase a JCB manipulator to use in its new factory (Image: Feritech Global)
A marine engineering company is set to expand with a new Â£ 3million facility in Falmouth.
Feritech Global has led marine engineering and geotechnical surveying projects for clients around the world and is now keen to enter the floating offshore wind turbine market, as well as providing manufacturing service to local product innovators and developers.
The company is expected to open its new 3.5-acre production site in Falmouth, Cornwall, in September, which it says will help its expansion.
Feritech received a grant of Â£ 38,000 from BIG Productivity to acquire a new JCB telehandler for use in and around the new factory.
BIG Productivity (Business Investment Fund for Growth) is a Â£ 3.15million investment fund funded by the European Regional Development Fund and delivered by Cornwall Development Company.
The program aims to increase productivity in the region by supporting businesses with national and international opportunities. The program is also expected to create 175 skilled jobs for Cornwall.
Rob Ferris, Managing Director of Feritech Global, said: âWe are a fast growing company with big plans for the future. Our new production facility will be the only one of its kind in the South West, combining a full manufacturing service on one site – from design and machining to manufacturing, hydraulics, electronics. and embedded software, allowing faster execution of projects.
âThis new JCB telehandler will allow us to increase our productivity and further improve our service, supporting our growth. The approval of the grant is also a recognition by BIG Productivity that we are an ambitious and innovative company and that our growth will have a positive impact on the local economy at large and the supply chain, leading to more creation of jobs in Cornwall.
Anna Staevska, BIG Productivity Program Manager at Cornwall Development Company, said: âFeritech is a great example of the pioneering and ambitious companies creating a new future for Cornwall.
“They are at the forefront of innovation and their exciting projects will lead to new jobs both at Feritech and more broadly in Cornwall thanks to the companies they work with.”
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