Mono’s move backed with £3m from RGF
MONO Pumps has secured £3m from the Regional Growth Fund (RGF) towards its relocation from Audenshaw to a 31,500 sq ft site in Chadderton previously occupied by BAE Systems.
The company is relocating to the larger Greengate site as part of a £20m investment.
Mono Pumps’ roots in the Manchester area go back to 1865 but the company is now owned by US-based parent National Oilwell Varco (NOV).
In 2011 the Government approved Muse Developments’ RGF application for funds to help it lure Mono to its Ashton Moss Business Park in Ashton-under-Lyne, but this was one of three locations the company was considering.
The firm, which has around 400 staff, has already received support Oldham Council for the move to Greengate. The site is currently owned by Royal London Asset Management and sits next to a site containing the headquarters of Findel-owned online retailer Kitbag.
Oldham Council leader Jim McMahon said: “This is fantastic news for Oldham and for the regional economy. It was vital that a firm of the stature of Mono Pumps was not lost to the local economy and we’ve worked extremely hard behind the scenes with the Greater Manchester Combined Authority (GMCA) to get this deal in place.
“We are serious and proactive about attracting inward investment here. That means a no-nonsense approach and quick decisions and this deal is yet another positive example which shows that Oldham is open for business.”
Paul Naylon, managing director of NOV Mono, said: “We’re delighted that we’ve received this grant, and it demonstrates what can be achieved through co-operation. We’ve worked very closely with both Oldham Council and the GMCA on our project to relocate to Oldham, and this grant is one of the benefits of that approach.”
He added, “I am now retiring from Mono after a very happy 26 years with the company and am delighted to hand over to Steve Valentine who will now lead the Mono business as managing director.”
The money has come from the RGF via a fund administered by GMCA and Greater Manchester Local Enterprise Partnership (GMLEP). Mike Blackburn, chair of GMLEP, said: “Mono makes a significant contribution to Greater Manchester’s £5.2bn manufacturing industry and this funding will ensure they can fully realise their ambitious plans for growth in the area. Their commitment to expand their base in Oldham will have a knock-on effect for the local economy and is boosted in particular by their well-established international connections – especially those with the US and Chinese markets.”
