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A Bedwas-based engineering firm employing more than 350 staff has become one of the largest businesses in south Wales to become employee-owned.

MII Engineering, which is based on Pantglas Industrial Estate, is a UK-wide engineering service provider, with nearly 120 customer across the oil and gas, pharmaceuticals, steel, food, water, and manufacturing industries.

The switch to an employee-ownership model gives the firm’s staff, who work across a range of skilled trades, an opportunity to have their say in the company’s direction.

Matt Moody, director at MII Engineering, said: “Becoming employee owned is a huge step for any company, but one that we’re seeing more and more businesses in Wales start to take.

“We’re delighted to have completed on our Employee Ownership Trust (EOT). Not only will this give our employees, who have been so crucial to our success since our beginning in 2009, more say over how the business is run but it should also provide greater job security as we’re able to really focus on our long-term success.

“We would like to thank Geldards, who advised the trust during the transaction.”

The creation of an EOT sees the ownership of a business transfer to its employees, with the trust acting as the majority shareholder. The overall aim is to ensure that all qualifying employees play a part in, and get to share in, the future success of the business.

Mr Moody continued: “Ultimately, for us transitioning to an EOT model is about making sure MII Engineering is the best it can be – for our employees, and for our clients. We’re proud to be a leading employer providing high quality job opportunities in the area, and becoming employee owned will enable us to do even better.

“We’re confident this change will not only improve our operations and therefore our client experience, but also the culture and overall job satisfaction for the talented people who work for us. For us, it’s business as usual – but better.”