The company is a specialist in the automated loading of freight for air cargo, road transport containers and shipping, and exports to countries around the world.
The funding Joloda Hydraroll has received from the Welsh Government’s Economy Futures Fund is helping it create new roles and secure its future on the island, while the Economic Resilience Fund (ERF) has protected its workforce through the coronavirus pandemic.
The company is investing £240,000, which includes £80,000 from the Welsh Government, to extend two areas of its operations in Gaerwen, build a dedicated trailer park and upgrade equipment.
The move will create new jobs and aims to increase manufacturing capacity by 20 percent as well as improve efficiency and safety.
The company has also received £26,500 from the Economic Resilience Fund to help it deal with the impacts of the coronavirus pandemic.
The ERF, which is part of the Welsh Government’s £1.7 billion plus support package for business, is providing significant help to companies across Wales and complements the support provided by the UK Government. To date, more than 13,000 businesses have been supported through the fund, helping to protect in excess of 100,000 jobs.
Alec McAndrew, Operations Director at Joloda Hydraroll said:
“A number of options were considered prior to the investment by Joloda Hydraroll in Anglesey. One of which was not to invest and purchase assemblies from Europe. The Welsh Government support enabled us to justify an investment to improve efficiency, increase capacity and reduce costs. Subsequently this has enabled us to safeguard jobs and create new positions that will be filled as the economy recovers.
“Joloda Hydraroll has also secured Economic Resilience Fund support which gave us the option to furlough most of our Anglesey workforce as a result of our suppliers closing due to COVID-19.
“Most of the workforce returned to the site after just three weeks following our suppliers return and their ability to be able to supply us. It’s enabled us to get through a difficult time without reducing our workforce as orders now start to match pre COVID-19 levels.
Economy Minister Ken Skates said:
“It’s great to see Joloda Hydraroll investing in its future in Gaerwen and I’m delighted the Welsh Government has been able to support their plans to expand, help create new jobs and protect others.
“This is an incredibly challenging time, but this investment is a show of confidence in the area and the economy.
“I’m also pleased that our Economic Resilience Fund has supported the company in dealing with the challenges and pressures posed by the coronavirus pandemic. The ERF has been crucial to thousands of businesses throughout Wales, protecting jobs and livelihoods.