EUR 330,000 investment with EU support at WellMade Woodworks
WellMade Woodworks (Michael Farrugia) are in the process of investing around EUR 330,000 in new equipment.
The investment is being made with support from the European Union under the European Regional Development Funds (PA 3 of the Operational Programme 1 for Malta - Enhancing Malta’s competitiveness through investment in SMEs) through the SME Diversification and Innovation Grant Scheme which forms part of the portfolio of schemes under the Business Enhance ERDF Grant Schemes. Aid intensity is at 50% of the total investment costs, totalling circa EUR 166,000.
The project, entitled ‘Investments for Diversification at Well Made Woodworks’ (ERDF.PA3.ERDF.03.S3.Call 1.0050) entails the procurement of and installation within WellMade Woodworks’ factory in Mosta of: an industrial automatic edge bander, a Computer Numeric Control (CNC) Drilling Centre and extraction system for wood-dust. These would enable the applicant to automate its production process and diversify into new forms of output, in particular higher end invisible hairline products and/or water tight products.
Apart from such diversification, the project is expected to: increase in the ability to produce large volumes of furniture within a short-period of time, reduce operating costs whilst still enabling the firm to provide customised solutions, improve the quality of the output whilst reducing the environmental footprint of the manufacturing process (in terms of dust, noise and energy consumption)