50 new jobs as Welshpool company booms
Fifty new jobs are to be created by a Welshpool manufacturer as it looks to double its income.
Invertek Drives is aiming to grow its annual turnover from £14million to £30million in the next five years, and is in talks with the Welsh government about increasing the size of its factory to allow it to double its output.
It comes after the firm secured a new £2.5million finance package from HSBC.
Operations director Charles Haspel said: "We have invested heavily in innovation in recent years and are very excited about the potential of the current product portfolio.
"We are now in a position to drive sales within our key global markets and expect turnover to be around 20 per cent higher this year." The firm, established in 1998, makes drives for controlling the speed of electric motors.
The new appointments will take the firm's staff to more than 200, while investment in its premises will see it doubling its output from its Offas Dyke Business Park base from 500 units a day to 1,000.
Invertek sells its products into 80 countries and generates 95 per cent of its turnover from international sales.
