Wednesday, September 8, 2010

News: AESSEAL's charitable fund reaches £500,000


Leading Rotherham manufacturer, AESSEAL has become the first ever organisation to hold a half a million pound charitable endowment fund with the South Yorkshire Community Foundation (SYCF).

The Templeborough firm already had a fund worth more than £250,000 to secure the future of community projects in the area, but with a further instalment has smashed through the half million barrier.

Through the Grassroots Grants programme, SYCF can match all monies pound for pound, but thanks to gift aid and tax relief that can be claimed on charitable donations, AESSEAL's fund increased by four times the actual cost of their donation.

While the permanent capital fund of £557,670 will support communities in South Yorkshire forever, AESSEAL has also made a donation of £25,000 available to provide immediate support to groups and projects in the area.

Chris Rea, managing director of AESSEAL, said: "Rotherham has been a great place to establish and grow a business.

"Since 1981 we have consistently grown and felt it was appropriate to put something back into the area that has been so helpful in our business development.

"We knew this was a very time limited opportunity to take advantage of what is a groundbreaking match funding offer so we were eager to make our donation.

"We are now looking forward to seeing the great benefit that AESSEAL's charitable fund will have for worthy causes throughout South Yorkshire."

AESSEAL is the world's fourth largest mechanical seal business. They specialise in the design and manufacture of mechanical seals, bearing protectors and environmental control systems for process equipment, maximising reliability and protecting the environment from leakage.

AESSEAL website
SYCF website



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