UK, Dresser Mouldings Receives £230,000 Grant for Business Investment
Summary
Dresser Mouldings Ltd, a Bolton, UK-based manufacturer of bespoke timber and wood mouldings, including fine wood carvings, timber columns and handrails, has received a £230,000 Grant for Business Investment (GBI) from the Northwest Regional Development Agency (NWDA).Dressers Mouldings will use the grant to acquire the productive assets and workforce of the Rochdale-based Timbmet, a multinational timber provider and one of the company’s suppliers, which will save 22 jobs.It will generate essential additional turnover for the company, which had recorded a 20% decrease in sales over the past 8 months due to the economic downturn.“By securing this grant at a difficult time of trading, we are able to offer the necessary changes required to maintain a competitive edge in today’s market.By securing the grant we have been given the opportunity to retain and grow these skills, along with a clear business incentive to invest also in new technology”.