Welsh firm helps protect the world’s largest moving structure with help from UK and Welsh governments
Tuesday October 11th, 2016
In a boost to Wales’s international trade, Pontypool-based manufacturer Flamgard Calidair has won a contract with the Chernobyl New Safe Confinement with support from the UK Government through UK Export Finance (UKEF), Welsh Government research and development grants and Lloyds Banking Group.
Flamgard will provide fire and shut off dampers to the Chernobyl site, the world’s largest movable structure designed to facilitate monitoring and demolition of the previous containment building following the 1986 disaster, while securing remaining radioactive material. The €1.5bn multinational engineering project, managed by international contractor Novarka, will be installed in late 2017.
The move comes as the UK Government looks to promote trade abroad through the Exporting is GREAT campaign, which aims to inspire and encourage more businesses to export.
To fulfil the contract, Flamgard required additional finance to issue an advance payment bond, a common challenge for exporters. It was able to secure this through its bank, Lloyds, while a guarantee from UK Export Finance meant there was no requirement for a deposit.
The Welsh Government has provided ongoing innovation support to Flamgard over a number of years, including funding from the European Regional Development Fund, to support the research and development of technically advanced products and for equipment to enable the business to meet the growing global demand for its products.
Rt Hon. Greg Hands MP, Minister of State at the Department for International Trade, welcomed the announcement, saying:
“This success demonstrates that there is a world of opportunity out there for innovative, outward-looking companies like Flamgard. But when the world needs your expertise, you may find you need additional support, and I am delighted that the UK Government, through UK Export Finance, was able to help ensure this very special export happened.”
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