16th January 2019
£6.5 Million Boost for Life Sciences Sector set to Bring New Jobs to South Wales
Biocatalysts Ltd, one of the world’s leading enzyme manufacturers based at Nantgarw, Cardiff, is certainly a growing business after expanding its enzyme production plant. The £6.5 million investment supported by Barclays has built a 11,000 square foot extension to the existing site together with significant investment in new plant, to treble manufacturing capacity at the site.
The investment will create 30 additional jobs and accommodate increased demand as the business continues to grow and expand into new markets. The business currently turns over £10 million per annum with ambitious growth plans to double turnover by 2023.
Established in 1985 after relocating to Wales from West London courtesy of a WDA grant, the business currently employs over 70 staff and is a world leader in specialty enzyme manufacturing, for the food processing and other industries. Biocatalysts enzyme technology production is used to improve processed food shelf life, quality and enhance flavour and is part of the supply chain to seven of the top ten global food companies.
Stuart West, Non Executive Director at Biocatalysts Ltd said:
“After 25 years as Managing Director I now step into my new role as Non Exec Director from Jan 2019. The business has grown rapidly in recent years with continued support from Barclays backing our continued growth strategy, and the new enzyme plant will allow us to significantly increase production and expand into new markets.
“We have previously been outsourcing production to Eastern Europe but the new unit will allow us to bring production back in house. Enzyme development has moved from the labs to the laptops as computer processing power now enables us to rapid prototype and develop new bespoke enzymes in months rather than years.”
Rob Reid, Barclays Relationship Director said:
“SMEs are the lifeblood of our economy and we have worked closely with Biocatalysts to understand the complexity of their business and support their expansion plans. Barclays is committed to using our industry expertise and specialists to support such propositions, which enable local businesses like Biocatalysts to compete and win major contracts, creating jobs and delivering real benefits to the local economy.”
Stuart West, continues:
“The new equipment will allow us to significantly increase capacity and enter new markets. We currently export around 80% of our product right round the world to South America, the Far East and with the US being our biggest export market.
“We have created a US subsidiary Biocatalysts Inc to accommodate the demand from the US. as there is still huge potential in the US market as their demand for quality processed food continues to soar. The new plant will allow to diversify our enzyme manufacturing into the pharmaceutical sector and baking industry.”
Head over to Biocatalysts member profile here