Trucking company Runtech has opened new offices in Swansea and created jobs as part of ambitious growth plans. The Port Talbot firm invested £2.7m to acquire the 17,000 sq ft offices at Dyfrig Court at Riverside Business Park.
The funding, supported by Barclays, is part of Runtech's ambitious growth plans and has already created 50 jobs. It will also support the company's operations to supply various vehicles and plant to the steel, agricultural, chemical and general haulage industries.
Runtech employs over 270 staff and is forecast to reach a turnover exceeding £24m next year. The company offers vehicle hire, transport, plant rental, specialist services and contract hire solutions and plans to continue to focus on added value services and new business opportunities.
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Founder and managing director Ian Gorvett said: "This is a massive investment for us and is already paying dividends. The new purpose built offices have given everyone confidence in the business which has manifested in new contracts and new jobs.
"I started the business back in 1988 as a sole trading plant engineer, providing single vans to the rail industry and promised my wife I would stop when I got to 30 vehicles. We now have over 1400 vehicles capable of transporting anything, anywhere in the country, along with bespoke plant services into specialist companies."
He added: "I still have the same passion for the business I had 25 years ago but recognize the importance of succession planning with my son Grant now a company director, driving innovation and technology into all areas of the business.
"With the energy of youth blended with our considerable experience, we have the perfect blend to grow the business, delivering tangible benefits to our clients, our employees and the local community. We are passionate about the local community which supported us when we were just a small local business and we feel privileged and fortunate to put something back."
Corporate banking director for Barclays Jason Llewellyn said: "By really understanding the business and the industry sector, Barclays has been able to deliver a funding package to support Runtech. The business has continued to evolve in its 20 years with Barclays, developing greener and more sustainable operations to match customer expectations and win new contracts."
Carolyn Harris MP for Swansea East said: "I am delighted to see this investment by Runtech, supported by Barclays, in Swansea East. It is wonderful to see businesses continue to grow and flourish during these difficult times, and to see new job opportunities being created in our city."
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