Triumph for Tygavac in funding bid

Rochdale business Tygavac Advanced Materials Ltd has received a conditional offer of £1.62 million grant funding as part of the Government’s Regional Growth Fund (RGF) scheme.

Based on Kingsway West Business Park, Tygavac is one of two local companies to receive a slice of the £1.4bn fund, which is designed to encourage growth in the private sector.

The funding will unlock investment for Tygavac’s brand new high technology manufacturing and distribution plant, which will also have research and development facilities.

Kerry Lee, VP General Manager said: “We have had some great support from Rochdale Development Agency and MIDAS during the bid process, including assistance with finding the right location for our new premises.

“This proposal offers a real opportunity for job creation and security in the Rochdale area. Once we have satisfied the due diligence process we will be able to move forward with a project that will help sustain local jobs, give our supply chain scope for growth and enhance our Technical, Training, Research and Manufacturing base."

John Hudson, Chief Executive of Rochdale Development Agency said: “Tygavac is an important local company with real growth potential. We are delighted with the provisional offer of RGF funding and will be working with the company to secure the grant and their relocation to new and larger premises within the borough”.

http://www.rochdaleonline.co.uk/news-features/1/business-news/55139/nick-clegg-announces-regional-growth-fund-winners-in-rochdale