06/05/2015

Trojan Electronics continues to expand with move to single site in Swansea

An award-winning electronics company set up in 2002 with a loan from Finance Wales has consolidated its operations at a new, purpose-built 180,000 sq ft development at Kings Dock, Crymlyn Burrows in Swansea.

Trojan Electronics (Trojan) is currently experiencing double-digit yearly growth in its turnover and aims to double it over the next 2 years.
 
The move will safeguard the jobs of Trojan’s 150-strong skilled workforce and the new premises have the capacity to allow Trojan to take on another 100 staff as it expands.

A £250,000 loan from Finance Wales, a £500,000 EFG loan from the company’s bank, Santander and a £625,000 Welsh Government funding package helped the company to make the move.

Economy Minister Edwina Hart said: “The relocation marks an important step in the company’s future growth plans and I’m delighted that Trojan Electronics, a very successful indigenous business, has had the funding support needed to make this major investment. The company makes an important contribution to the regional economy and its great news that it will now be in a position to create a significant number of new jobs.”

Explaining why the company is on the move, Malcolm Rash, one of its founders said: “We’ve successfully grown Trojan Electronics over the last 13 years, diversifying into lucrative new markets.  Our operations were split over 3 sites in Swansea and we also had some warehouse space in Llanelli - this was holding us back.
 
“Finance Wales’ loan was a key part of the funding package that helped make the move happen.  The new premises at Kings Dock, Crymlyn Burrows are a major step forward as we can now streamline the way we operate, introduce significant efficiencies and take on other new contracts.”

Trojan’s operations now include 3 main business units. It repairs and refurbishes consumer electronic goods such as laptops and TVs for manufacturers and some of the world’s largest retailers.  It also manages and resells customer returns for high-street and online retailers, while its Contract Electronic Manufacturing business can offer clients a complete design and build service.

Alun Thomas, Senior Investment Executive at Finance Wales made the loan.  He said: “Finance Wales helped Trojan to launch the business in 2002 and I’m pleased we’ve helped the company again.  Trojan Electronics now has 3 divisions and has gone from strength to strength by diversifying its operations.  It has also developed its own innovative systems to improve its operational effectiveness and maintain its competitive edge.

“The Trojan management team have built a sustainable business with considerable long-term potential that is increasing its impact on the Welsh economy.  They’ve also focused on developing a skilled local workforce and the next phase of the company’s development promises significant future growth.”

Trojan’s dedication to providing high-quality services at competitive prices, has proved popular with its clients.  The company is committed to maintaining high staff retention levels has invested in training and other staff benefits.

Andrew Williams, Relationship Director at Santander said: “Trojan is an extremely important business to the local economy. The innovative funding package allowed the company to make a significant investment for its future growth by relocating to the new premises. Santander is very proud to be associated with the business.

“Alongside the Welsh Government this is an excellent example of Finance Wales and Santander working together to benefit a local business.”

Finance Wales’ investment came from the Wales JEREMIE Fund which is backed by the European Regional Development Fund through the Welsh Government and the European Investment Bank under the European Commission's Joint European Resources for Micro to Micro to Medium Enterprises (JEREMIE) initiative.