Irish entrepreneur John Mooney has acquired the assets of Mid Wales Litho (MWL) and – with Welsh Government support – is taking on most of the workers who lost their jobs when the company went into liquidation last year.
The £1.7m investment by John Mooney – who already runs two highly successfully print businesses in Wales – has been backed by £960,000 from the Welsh Government which ensured that the MWL assets remained in Wales and that nearly 100 former staff will be taken on.
MWL went into liquidation last year when all 113 employees were made redundant.
Mr Mooney has acquired the plant and machinery of MWL , invested in a new printing press, taken a lease on the former MWL facility in Pontypool, and has already taken on 50 former staff since the beginning of November, with plans to increase the headcount to 96 in total.
The Pontypool site will be incorporated into Zenith Media, a business he previously acquired from administration with Welsh Government support .
The investment will complement the high value work undertaken by his other print and packaging businesses. They include Zenith Print and Packaging Ltd which has received Welsh Government support for a new press and C3 Imaging Ltd – which has operations throughout England.
Economy Minister Edwina Hart said: “I am delighted that Welsh Government support secured this investment for Wales as there was a real possibility the assets could have been transferred to another litho print operation in the UK.
“This is really good news for Pontypool, for the local economy and especially for those people who lost their jobs. This latest investment is very welcome and its great news that these jobs have been created so swiftly.”
Mr John Mooney said “ We are very pleased to continue to invest and grow our presence in Wales increasing the numbers employed to in excess of 230 across our Welsh businesses. We have found the people we have employed to be a highly skilled and motivated workforce.”
Zenith Print and Packaging has a world wide customer base and the re start of Pontypool will enable the group to provide a one stop shop service for all print and packaging needs. It includes litho and digital printing, large indoor and outdoor display graphics, printing on paper, fabric, wood and plastic as well as innovative quality packaging.
The group has invested heavily in new technology and in gaining recognised quality accreditations to satisfy the demanding environmental, quality and safety standards of multinational and governments throughout the world.
The business carried out work for the 2012 Olympics and lists many prestigious clients in the UK and throughout the world.