New jobs created by merger
3:20pm Sunday 15th April 2012 in News
Thirty new jobs are set to be created in the county with the merger of Milford Haven Port Authority’s ship repair business and international boat builders Mustang Marine.
Mustang Marine, a family-run business based in Pembroke Dock, has been operating since 1984; Milford Haven Ship Repairers services the requirements of the port.
The deal involves the substantial investment of new capital to finance growth plans of the enlarged business, with the specific objectives of shortening new-build delivery times, and providing state-of-the-art fabrication facilities at Pembroke Dock.
Chief executive of Milford Haven Port Authority, Alec Don, said that marine engineering was an area with potential for growth in Pembrokeshire.
“Our confident expectation is that since the two businesses naturally complement each other, together they will create around 30 new job opportunities over time,” he said.
Kevin Lewis, one of the founders and the managing director of Mustang Marine, said: “This merger and the investment from the port authority will enable us to look forward to the development of the repair side of the business and the provision of these services to the renewables industry, as well as the enhancement to our new construction work.”
Along with investment by the port authority, the enlarged business will be 50% owned by the port authority and 50% by Mustang’s existing management, will trade under the Mustang Marine name and will operate across the two existing sites at Pembroke Port and Milford Docks under extended lease agreements.