A small medical technology company operating from Whitland - whose expertise in a highly specialised niche market is acknowledged worldwide - had double cause for celebration last week.

The Magstim Company Ltd. - which had been operating from four units and two portable cabins in the town - had its new prestigious bespoke premises officially opened by Deputy First Minister Michael German on Friday.

Magstim is a world leader in the development of electronic medical equipment used in the diagnosis and treatment of nervous disorders - and the event also marked the launch of a new generation of magnetic stimulation devices designed, developed and manufactured at their base in Whitland.

They are used in hospitals and clinics worldwide and the first of this new range, incorporating the most advanced technology, goes on sale next month and will be marketed globally.

The company's expansion has been supported by the Welsh Assembly Government through a Regional Selective Assistance grant and the WDA which developed the new factory, laboratory and offices.

The £1m. investment will not only create 16 new highly skilled jobs, but enable Magstim to meet the growing demands for its products and remain at the forefront of the global market.

The new 13,000 sq. ft. premises doubles Magstim's operating area, providing space for future expansion and allowing the company to operate more efficiently and effectively.

Opening the new premises, Michael German said Magstim's success proved that a rural location was not a barrier to developing a world leading, high tech company.

"We need more companies like Magstim in rural areas in order to spread prosperity across the whole of Wales," he said.

"The Welsh Assembly Government recognise that small firms are the bedrock of the Welsh economy and motors for innovation, growth and long term sustainability. We are committed to supporting indigenous small and medium sized companies who want to develop and become competitive."