Welsh Government invests £566,000 in US fishing company
Fly fishing line brand Airflo, part of the US-based Mayfly Group, has received a £566,000 investment from the Welsh Government.
The funding is intended to help preserve the future of the company’s plant in Brecon and will lead to more than 20 new jobs.
Airflo, which makes the world’s only 100% PVC-free fly fishing lines, has seen a boom in pre-season orders and expects its North American business to quadruple.
The investment will support expansion into new markets including Japan, South Africa and New Zealand.
It will also fund the replacement of old equipment, improving productivity, as well as continued research and development. Airflo has invested almost £2m in its Brecon plant in the last three years.
“Airflo is a unique company with an innovative product that has worldwide sales potential,” Economy Minister Vaughan Gething, told the Powys County Times. “This project will not only help boost the local economy in Brecon, providing a predominantly rural area with employment opportunities, but will also result in the development of a new product that will help protect the environment.
“This investment aligns with our long-term ambitions of phasing out unnecessary single-use products, especially plastic, and sending zero plastic to landfill.”
Airflo Finance Director Sherrie Wolf said: “We have massive opportunities to grow our exports and at the moment we can’t meet demand. This loan will help assist us in adding substantial production equipment and add a further 21 full-time roles.”