The investment, backed by £3m business finance from the Welsh Government, will also safeguard around 90 direct jobs and secure the long term sustainable future of the business in Wales. It will see employment rise from 237 to 297.
The company, part of the technology group Freudenberg, designs, develops and manufactures high integrity sealing solutions for the oil and gas industry globally.
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The investment has been welcomed by Economy Minister Edwina Hart. She said: "This is a major investment by the globally active German family-owned Freudenberg Group that will not only create 60 highly skilled, well paid jobs but it will also safeguard 90 others and ensure the long term sustainability of their operation in Wales.
"The company makes a major contribution to the economy, exporting products that are developed here in Wales, across the world. This investment illustrates the company’s commitment to Wales and I am pleased the WG is able to support this expansion."
The expansion and investment project will result in Freudenberg Oil & Gas Technologies moving from three separate sites on Baglan Industrial Estate to the former Panasonic factory also on Baglan Industrial Estate where it will occupy 116,000 sq. ft.
(CD)
