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CML Microsystems PLC on Monday announced plans to create over 200 employment opportunities at its 29-acre Oval Park site in Maldon.
The Essex, England-based semiconductor developer said the transformation of the Oval Park site is expected to bring over 200 jobs to the districts by 2024.
The development will house offices, warehousing and research & development facilities, as well as Maldon Crystal Salt Co Ltd and Tecniq Ltd, which will both relocate to the site.
Maldon Salt is a salt brand founded in Maldon, near the Essex coast, whilst Tecniq is a design and technology lead manufacturing company working for car manufacturers.
CML also said that it has submitted planning applications to Maldon District Council and subject to approval, work is due to start on the site in 2023.
Chair Nigel Clark said: ‘The development of the business park provides other organisations the opportunity to join us and locate to Oval Park, attracting further investment into the Maldon District whilst also providing local companies the opportunity to raise their profile.’
Shares in CML Microsystems were down 3.5% to 350.42 pence each in London on Monday afternoon.
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