International technology company, Sword Group, has today announced that it is on track to exceed ambitious growth targets agreed with the Welsh Assembly Government for its new Technology Centre in Cwmbran.

Sword’s world class information Technology Centre which opened in January 2008 with two employees has grown in 12 months to sixty seven people. Despite the current global economic turmoil Sword’s staffing levels in Cwmbran are expected double in 2009 and the firm is opening a second building in March to enable this continued growth.

The Centre was established in partnership with the Welsh Assembly Government who awarded a £3.6m grant to the Group in 2007. As well as attracting a first class employee base from surrounding areas, Cwmbran is strategically placed to support the Group’s UK operations with easy links to all major cities.

The Centre operates as a support nucleus for Sword Group’s growing IT portfolio. Its focus is on research, development and operational support but with a wider brief to extend functionality of current Sword applications with a comprehensive ‘build-out’ strategy.

Heath Davies, chief executive officer of Sword Group is delighted with the Centre’s success: “Our confidence in South Wales coupled with the tremendous support from Welsh Assembly Government has been rewarded by an outstanding first year. Not only has Cwmbran proved an excellent geographic location, we have managed to attract a first class and loyal skills pool. I’m looking forward to a very positive 2009”.

Ieuan Wyn Jones, Minister for the Economy and Transport, described it as excellent news.

“It is particularly pleasing in this current economic climate to hear that Sword Group’s new Welsh centre is exceeding expectations and already playing a key role in supporting the Group’s operations.

“I am delighted the Assembly Government has been able to support Sword Group in their decision to open this technology centre in Wales. It is exactly the type of investment we want to attract to Wales in order to drive forward a knowledge based economy.

“The research and development element of this investment is of particular importance to the Welsh economy while also providing superb career opportunities for Welsh graduates. I should like to congratulate Sword Group on this early success and shall look forward to seeing them expand operations in Wales.”

Internationally Sword Group has had a successful 2008 with year-end revenue projected at over €205 million and operating profit of over 17.5%.