LONDON, UK: CML Microsystems Plc, which develops mixed-signal, RF and microwave semiconductors for global communications markets, announced plans to create significant and sustainable employment opportunities at its current 29-acre site located at Oval Park, Maldon.
On 5 July 2022, the Company announced in its final results that its Oval Park site is designated employment land in the Maldon District Plan and part of this land is excess to CML’s trading requirements, which had led the Company to sign sale contracts with two separate parties, subject to them gaining appropriate planning permission for development on approximately 13 acres of land.
A series of planning applications have now been submitted to Maldon District Council to create a state-of-the-art business park hub and additionally the site will house two world leading organisations in their respective fields, Maldon Crystal Salt company and Tecniq, whose relocation to the site will provide the corner stone of the development.
The transformation of the 29-acre brownfield Oval Park site, which CML has owned for over 20 years, into an exciting new business development with spacious offices, warehousing and world-class R&D facilities is expected to bring over 200 jobs to the district by 2024 and potentially many more in the next few years.
The development of the site marks a milestone in the Group’s strategy to dispose of excess land where it is in shareholders’ interests to do so. Subject to planning permission, work is due to start on the site in 2023.
Nigel Clark, Chairman of CML Microsystems commented: “The creation of a state of the art business park coupled with the relocation of the Maldon Salt Company and Tecniq, two world leading organisations in their respective fields, co-locates a trio of quality British companies providing the corner stone of the development – the best of British. 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.”