Essentra, a supplier of plastic, fiber, foam and packaging components, is planning a six-fold expansion of its facility in Newport, UK.
The move, which is expected to create 170 additional jobs, follows the company's announcement in last November to add 70 jobs at Newport site in a bid to strengthen its operations.
As part of the previous expansion plan, the company said it would purchase a 225,000ft2 site adjacent to its existing facility on Imperial Park.
As per the latest expansion plan, which is supported by £400,000 funding from the Welsh Government, Essentra will create a centre of excellence for the production of labels and foil, cartons manufacturing and an on-site structural and graphic design studio.
The new facility will feature two new label machines, a carton production line, a block foiling machine and computer to print equipment. Welsh Government Economy Minister Edwina Hart said: "This is excellent news and another significant investment by the company in world class manufacturing facilities at its Newport campus.
"Essentra is rapidly expanding its operations in Newport and I am delighted the Welsh Government is supporting their investment and the creation of jobs."
Upon completion of the expansion plan, the total number of staff at the firm's Newport site will increase to around 330.
Hart added: "Life sciences are one of our key economic sectors and take centre stage as the BioWales international conference and exhibition opens in Cardiff tomorrow.
"We have seen significant growth and investment in the sector over the last five years, with jobs increasing by more than 5% annually during that period. Wales has a notable strength in the pharmaceuticals services sector which will be enhanced by this latest investment by Essentra."
