Swansea Assembly Members Mike Hedges AM (pictured) and Julie James AM have today welcomed the news that a Swansea-based cosmetic technology company is anticipated to grow substantially by at least 30-40 times over the next five years.
The news comes after the Chief Executive of CyDen, William Cotton, made the announcement during a visit from Business Minister, Edwina Hart, earlier this week.
CyDen, which has recently moved into larger office premises based in the Technium Swansea in the SA1 complex, is at the forefront of light-based skin treatments. The company has recently signed a five year multi-million pound deal with the international consumer goods giant, Proctor & Gamble, to sell personal hair removing devices in the global market.
In a joint statement, Mike Hedges AM and Julie James AM said:
“This is exciting news for an indigenous Swansea-based company that clearly has a very bright future ahead.
“Since being set up in 2002, CyDen has made an important contribution to the local economy in Swansea. Last year, we welcomed the news of CyDen’s expansion of its workforce in anticipation of their latest deal with Proctor & Gamble.
“Its fantastic news that this five year multi-million pound deal has gone ahead and we look forward to seeing this Swansea-based business at the forefront of its industry grow further, with the possibility of new local jobs being created.
“We would like to congratulate CyDen on their great success and we wish them the very best of luck in the near future.”
Business Minister Edwina Hart said:
“I hope to see more companies in Wales following this example and am confident the new Welsh Life Sciences Fund I announced last week – which will be worth up to £100 million – will help transform the sector in Wales.”
