British supplier of specialty plastic, fiber, foam and packaging components Essentra is investing in the expansion of its facility in Newport.
As part of the expansion, the company will purchase a 225,000ft2 site adjacent to its existing facility on Imperial Park.
The expansion is expected to create close to 70 jobs, bringing the total number of employees in Newport to 100.
Essentra said that the additional investment in Newport will extend the capability and capacity of the existing site, as a center of excellence to manufacture its wide range of innovative packaging, and will allow the company to cater to exacting requirements of customers.
Welsh Government Business Minister Edwina Hart said: "I am delighted Newport was selected for this additional significant capital expenditure and that it will now form a centre of excellence within this global group.
"It is a strong commitment to Wales and a great endorsement of what we can offer companies looking to expand, illustrating yet again that Wales is a great business location for life science companies."
The proposed investment is being backed by £143,000 in financing from the Welsh Government.
Essentra managing director Hugh Ross said: "As a global leading provider of specialist pharmaceutical, health and personal care and consumer goods packaging, Essentra's objective is to remain at the forefront of these industries, in terms of continuing to provide our customers with a comprehensive product offering, compelling value proposition and excellent customer service."
The company recently reached an agreement to acquire Kamsri Printing & Packaging's pharmaceutical packaging assets for an undisclosed amount.
Based in India, Kamsri produces packaging solutions for the pharmaceutical and healthcare end-markets.
Essentra has 69 principal manufacturing facilities, 64 sales and distribution operations and 5 research & development centers in 33 countries.
