Specialised Technologies Group Limited, which is currently located in Weymouth, has agreed terms with the South West Regional Development Agency (RDA) to build 25,000sq ft of commercial engineering and office space.
The company has been working with South West RDA and Weymouth & Portland Borough Council for some time and detailed plans for the new facilities have already been approved by the Borough Council. Construction is due to begin in September and completed by Christmas 2010. The South West RDA bought Osprey Quay, a former Royal Navy Air Station, in 2000 and is investing around £40 million to create a centre for marine business and leisure activity.
The private-sector investment in this new workspace is worth more than £3 million. Once completed, the company, which currently employs 19 full-time members of staff, aims to create up to 20 new jobs.
Alison Hatcher, Head of Regeneration for the South West RDA in Dorset, said:
“This is fantastic news and a real endorsement of Osprey Quay’s potential as a high quality business location for marine industries. The future growth of the marine sector in the South West is hugely important and the commitment by Specialised Technologies Group Ltd to develop and invest in its business in the region is very welcome particularly during these difficult times.”
She added:
“With the continuing regeneration of Osprey Quay, the Agency is firmly committed to the future creation of skilled jobs and unlocking the business potential of this world-class site to attract other marine related companies.”
Specialised Technologies Group Ltd is the parent organisation of a family of specialist companies providing underwater and offshore expert maintenance services to global defence, commercial marine and civil engineering clients. Its work includes ship repair and modification, engineering and application of protective coatings within the marine industry. The firm contributes around £2 million every year to the local economy and believes this will grow to £5 million over the next few years.
David Williams, Group Managing Director for Specialised Technologies Group Ltd commented:
“Osprey Quay is a tremendous location and offers just the right environment for our business. The RDA’s investment in Osprey Quay is absolutely vital and the Agency must be congratulated on bringing this former Naval site back into use for employment purposes – we are very supportive of what the RDA is doing.”
He added:
“We want to be able to provide globally-renowned facilities at Portland and create a hub for marine services on the south coast. Our work is highly technical and specialised and these new facilities offer the opportunity to grow the business for the benefit of our clients, and offer a broader mix of services and more high-tech skills as a result.”
He continued:
“We want to attract more commercial business to Portland and work with the owners of Portland Port and Weymouth & Portland Borough Council to maximise the benefits for the local economy.”
Councillor Geoff Petherick, Economy Briefholder at Weymouth & Portland Borough Council, said:
“We are delighted to see that the close partnership between the Council SWRDA and this private company has come to fruition and are confident that this development will both generate valuable new jobs on Portland and also set the scene for other marine base investment at Osprey Quay. This investment will help confirm Osprey Quay and the Borough as a destination for quality marine business. We commend Specialised Technologies Group for making this investment and wish them well for the future.”
Addtional information
For more information contact:
Ryan Martinez, Deborah Clark Associates
Tel: 01208 77900
Mobile: 07887 746569
ryan.martinez@dca-pr.co.uk
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Notes to editors
The South West RDA leads the development of a sustainable economy, investing to unlock the region’s business potential. It is helping companies respond to the economic crisis and charts a course for recovery. The RDA is developing or expanding initiatives which include: establishing a Business Loan Fund; coordinating the response to large companies in difficulty; preparing for economic recovery. For more information see www.southwestrda.org.uk
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