Cathelco granted £358,000 in investment
A manufacturer based in Chesterfield has received a grant for business investment (GBI) worth £175,000 from the East Midlands Development Agency (Emda). The funding created 18 new jobs at Cathelco, which was also granted a further £183,440 for research and development.
The GBI enabled the company it to develop new premises at Foxwood Industrial Estate, and also increase its capacity with a new plant and machinery.
The company, which specialises in pipework anti fouling and impressed current cathodic protection systems (ICCP), employs more than 85 staff. It is now increasing its workforce to meet demand for its protection systems used in the marine and subsea industries.
Cathelco received further finance for the development of its specialised marine protection systems from Emda, which provided a grant for research and development (GRD) of £183,440. The grant will enable the business to develop the technology required.
John Hollis, finance director at Cathelco, said: “This growth is driven by new product development and penetration of export markets, such as the Far East. Through our substantial capital investment and R&D activity over the last few years, we have been able to progress these developments and grow export sales. We are grateful for the continued support of Emda.”
