A global cable manufacturer has reaffirmed its commitment to Knowsley and the UK following Britain’s decision to leave the European Union.
Although Tratos had taken a pro-Euro stance, the firm has provided reassurances over its growing UK presence following the result of last Thursday’s (23 June) referendum.
The company says its £10 million investment plans, which include the creation of 40 new jobs, remain on course its Knowsley Business Park factory.
Maurizio Bragagni, CEO of Tratos Ltd, says: “This is a momentous day for the UK and Europe. The European Union map will be very different moving forward, but different doesn’t mean bad.
“As a 50-year-old family business, Tratos was an early adopter of a pan-European and now global view of the market place for our cable. The company remains fully committed to cable manufacturing in the EU, for us it is business as usual.”
Structural expansion work at Tratos’ Knowsley plant, which was completed during late 2015, is said to have enable the firm’s Merseyside operations to “grow four-fold”, with turnover also increasing 50% in the past 12 months.
A further £4m investment will provide new machines in an aim to speed up and increase capacity.
Tratos aims to achieve a £100m turnover through its UK business by the end of 2018, which is an increase of £70m over four years with further planned expansion into railways, medium/high voltage energy cables in the utility and oil and gas.
The independent company has five manufacturing facilities in Italy and the UK.