Investment boost for wall system company
Investment in a movable wall manufacturer will create new jobs and boost its export potential.
The Development Bank of Wales has confirmed a £200,000 investment in Carmartenshire-based DRL Partitions.
The business, which was established by managing director Dennis Lewis, manufactures sliding folding walls, expanding walls, operable walls and glass partitions for the education, health, leisure, community and commercial markets.
With a 20,000 sq ft unit on Dafen Industrial Park, DRL employs 21 people, with a further 10 new jobs being created in sales and manufacturing within the next two years.
Plus opportunities in the Middle East and India mean that the business is already exporting around 10% of products, with this figure set to grow to 40% within the next two years.
Turnover is expected to exceed £2m in the first year of trading.
Managing director Dennis Lewis said: “With over 30 years experience in this sector, I have been keen to start my own business for some time.
“The UK and global market for high-quality movable wall systems is very exciting and presents some great opportunities for us to quickly make our mark as a manufacturer of quality products.
“However, it’s very difficult to get any good ideas or business opportunities off the ground without financial help, especially as funding for manufacturing start-ups is so notoriously hard to secure.
“The support from the development bank is therefore much appreciated – we simply wouldn’t have been able to finance the capital needed to launch the business and
ADVERTISEMENT FEATURE
take on staff without their funding. What’s more, our repayments have been structured to help us manage cashflow.”
Richard Easton, a portfolio executive with the Development Bank of Wales, said: “Manufacturing a comprehensive range of movable wall and door systems, DRL is quickly establishing itself as a provider of high-quality, value-driven and speedy space management solutions.
“With significant export potential, the business is generating strong sales and the prospects are looking very encouraging. The foundation is firmly set for DRL to become a leading employer in the Llanelli area, creating new well-paid jobs where employment opportunities can be limited.
“We look forward to building on our relationship with Dennis as we support the team with their growth plans.”