Economic Resilience Fund supports St Asaph automotive manufacturer
A manufacturer of automotive parts in St Asaph has been supported by Welsh Government’s Economic Resilience Fund, allowing it to retain its workforce and continue operating.
TRB Limited, a wholly owned subsidiary of the Japanese Tokai Rika company, is a leading manufacturer of automotive switches which are used in electrical circuits in vehicles. These control mechanisms such as heating, air conditioning and window controls.
TRB employ 135 people and have faced challenges over the past few months with the pandemic’s impact on its supply chain. It has received £128,500 from the Economic Resilience Fund allowing it to continue operating for the long term and maintain its workforce.
The ERF, which is part of the Welsh Government’s £1.7 billion support package for businesses, is providing thousands of companies across Wales with significant financial support. It complements the help provided by the UK Government.
To date, more than 13,000 businesses have received financial support worth almost £300 million and the fund has helped protect more than 100,000 jobs.
Phil Riley, Deputy General Manager at TRB yesterday said:
It has certainly been a challenging few months for TRB Ltd. We continue to navigate the uncertainty that the coronavirus pandemic brings to the business, and the impact it has on our supply chains.
Despite the lockdown and dramatic reduction in sales, it was essential that TRB continued to control our long lead time imports and exports. The support we received from the Welsh Government helped us to overcome the interruptions coronavirus brought to our business, which allowed us to maintain our valuable and dedicated workforce.
Minister for Economy and North Wales Ken Skates yesterday said:
The coronavirus pandemic has brought huge challenges for businesses across Wales. Our immediate response has been to try and protect companies, jobs and livelihoods through an unprecedented package of support, delivered at pace, worth £1.7 billion.
Our Economic Resilience Fund has been a key part of that and absolutely essential in supporting thousands of businesses across Wales in dealing with the economic impacts of the pandemic.
I’m pleased TRB Ltd is being supported by the fund, allowing them to retain their workforce at this difficult time.
As the challenges continue we are doubling the third phase of our Economic Resilience Fund, making nearly £300 million available to support businesses. We will continue to do everything we can to support businesses in Wales through this incredibly difficult period.
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