Economic Resilience Fund vital in protecting jobs at north Wales manufacturer

Wednesday September 9th, 2020

Hundreds of jobs at Chirk-based manufacturer Kronospan have been safeguarded with help from Welsh Government’s Economic Resilience Fund (ERF).Government Opportunities

The company, which supplies wood-based panel products, is a key employer in north east Wales with more than 620 workers.

Kronospan experienced a dramatic reduction in sales as a result of the pandemic and the subsequent interruptions to cash flow, which left the company facing an extremely challenging period.

It received £622,000 from the Welsh Government’s ERF, which has helped the business continue to operate through the pandemic and ultimately protect the workforce.

The ERF, which is part of the Welsh Government’s £1.7 billion support package for businesses, is providing thousands of companies across Wales with significant financial support. It complements the help provided by the UK Government.

To date, more than 13,000 businesses have received financial support worth more than £280 million and the fund has helped protect more than 75,000 jobs.

Deputy Minister for Economy, Lee Waters said:

“Kronospan is an important employer in north east Wales and I’m pleased we have been able to provide crucial financial assistance at a time when the company needed it most, helping protect hundreds of jobs.

Coronavirus has placed incredibly difficult challenges on our business community and our immediate response has been to try and protect companies, jobs and livelihoods through an unprecedented package of support, delivered at pace, worth £1.7 billion.

Our Economic Resilience Fund has been a key part of that and absolutely essential in supporting thousands of businesses across Wales in dealing with the economic impacts of the pandemic.”

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