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An engineering business which launched a factory at Llantrisant earlier this year with finance from the Welsh Government is set to enter administration with more than 100 jobs at risk. It followed the provision of funding of £600,000 of a planned £2m investment from the Welsh government with hopes of expansion and another 200 jobs. The company insisted the £600,000 paid in grant funding by the Welsh government was not at risk.
Universal Engineering, which also has a site in Weymouth, said its strategy to diversify and develop new business has proved to be “unsustainable given the precipitous decline in investments in the oil and gas industry and the challenges faced by the company’s key clients”.
In February 2015, Universal Engineering revealed plans to create 200 jobs at a new Llantrisant centre of excellence, backed by £2m business finance from the Welsh Government. The new factory was officially opened in April 2015.
In October 2014, Universal acquired Midlands-headquartered precision aerospace component manufacturer Phoenix CNC Engineering.
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