Island of Malta set to be new base for Forth
Forth engineering company is in advanced talks to open a new branch of its business in the Mediterranean, singling out Malta as its new place of residence. The company currently has three bases in Cumbria, United Kingdom.
The Maltese government approached the company after officials witnessed innovations posted by the company on its social media channels. Managing director Mark Telford and projects director Graham Cartwright were invited to meet government officials to talk through potentially opening a base on the island.
Telford said: “Malta is small – but it packs a massive punch when it comes to ambition, foresight, and a willingness to make things happen. When we were first contacted by Malta Enterprise via email, we thought little of it – but agreed to an online call, during which they said enough to make us curious.”
Malta Enterprise, the government's official agency for business support and investment, is an important part of the government's economic strategy. It helps attract foreign investment to the island and foster growth. Malta has an advanced economy, as defined by the International Monetary Fund, with a GDP of $41,738 per capita. For reference, the UK has a per capita of $52,423 in the UK.
Being located in the Mediterranean grants the island many economic benefits, allowing access to an open-market economy, a multilingual workforce, thriving finance sectors, and a strong ICT sector. STMicroelectrics, a global semiconductor provider, has been manufacturing on the island alongside Lufthansa Technik.
Telford added: “We learned a lot during our time on the island, particularly about subsidies available to entice the type of business they are targeting. It is now our belief that we can create a successful operation on the island that has a meaningful impact on the local economy, brings Forth’s inimitable solutions-focused approach to an additional territory, and plays a role in the wider growth ambitions of the business.
Forth’s existing base portfolio consists of Flimby, Cleator Moor, and Barrow-in-Furness, all in Cumbria, United Kingdom. At these bases the company has specialized in bespoke engineering solutions. The company works with companies in nuclear, renewable, oil and gas, helping companies tackle challenges they face through its technology.
Telford said: “We are moving the conversation forward at pace, and Forth Malta Ltd could be a legal entity with a fair (Mediterranean) wind by summer. This is an incredibly exciting time for the team at Forth. We have the opportunity to take our innovative approach to engineering, along with our sustainable employment model, and make a meaningful impact in a country that is willing to invest in business infrastructure and create opportunities.”
Forth has experience in working on nuclear decommissioning, deep-water recovery, inspection services, and renewable energy projects. Once paperwork has been signed, recruitment will begin and the managing director will oversee operations.
