‘High skill levels’ tempt Latvian firm to UK

A Latvian medical-dressing manufacturer has moved to South Wales to develop high-value products for the sector.

Tonus Elast has teamed up with UK-based entrepreneur Chris Groves, who has a long history of building high-value medical devices companies.

The Latvian company, which was formed in 1995 and employs about 250 staff, has a strong sales infrastructure throughout Eastern Europe. It hopes that the new site, in Tredegar, Blaenau Gwent, will be a good route to market for new products and provide the venture with a foothold across the continent.

The firm said it was attracted to Wales because of the “high skill levels” in the medical devices sector, and because of the strengths of institutions like the Wound Healing Research Unit at Cardiff University.

The joint venture, called Tonus Europe, is expected to develop research and design links with Welsh universities and research centres to develop next generation products. Mr Groves will act as Chief Executive for the new company.

Ieuan Wyn Jones, Minister for the Economy and Transport in Wales, said that life sciences is recognised in the recently launched programme, ‘Economic Renewal: A New Direction’, as one of the key industry sectors in Wales. He added: “Wales does have world-class research in this area, internationally recognised centres of excellence like the Wound Healing Research Unit and extremely innovative and successful companies within the sector.

“I am pleased to see that these strengths have played a key part in attracting this new business to Wales and that Tonus Elast’s existing sales and distribution network could open up new opportunities for Welsh companies.”

Mr Groves said he is also keen to establish relationships with Welsh medical devices manufacturers who could take advantage of the extensive sales and distribution network that Tonus Elast has established in Eastern Europe.

© Press Association 2010