Proxima, a global procurement services provider, is expanding its base in Cwmbran, with the opening of a new procurement hub and creation of up to 68 new skilled jobs.
The company, founded in 1994 and headquartered in London, plans to double the number of people it employs in Cwmbran where the expansion has been backed by business finance from the Welsh Government.
Proxima has delivered double digit year on year growth annually for the last five years and is now the largest procurement services provider in Europe. The new hub in Cwmbran will also service its rapidly growing share of the North American market.
Welsh Economy Minister, Edwina Hart, said: “Proxima had considered another location for this expansion so I am delighted that support from the Welsh Government helped secure it for Wales. It illustrates once again that Wales is a very competitive location for financial and professional services companies where businesses continue to invest and re-invest. It is a key sector of the Welsh economy that is strongly supported by the Welsh Government and one we intend to expand significantly – which makes this investment by Proxima all the more welcome.”
Ian Thompson, Director of Procurement Operations said: “The on-going support we have received from the Welsh Government is very valuable and we are pleased to be playing our part in the development of the local professional services sector.
“Our Cwmbran office has built a strong track record of delivery for clients here and abroad and I am pleased to be expanding in Wales, which is a great location for our business. The calibre of staff we have recruited here and the strong partnership we have developed with Cardiff Business School and the University of South Wales’ Chartered Institute for Purchasing and Supply Centre of Excellence underscore the attractiveness of the region as a place to do business and we look forward to developing our operations here further in the future..”
Analysts at research firm HfS say the global procurement outsourcing market will reach some $3.4 billion in 2013, and will grow at an annual rate of 12% over the next 5 years.