Nearly 150 new jobs are coming to Telford thanks to two multi- million pound investments.

Masterplug, an electrical accessories supplier, is consolidating two sites into a new national distribution centre on Stafford Park.

And Protomold, which claims to be one of the world's largest and fastest growing rapid injection moulders, is planning to open its first European facility in the West Midlands later this year.

Masterplug supplies a wide range of items including telephone, satellite TV and home entertainment accessories along with more traditional products such as extension leads, plugs and sockets to some 200 major retails such as B&Q, Homebase, Asda and Argos.

Work to totally refurbish the 100,000 sq ft building and fit out new offices, warehouse and a state of the art showroom is nearly complete.

The Telford site will become the head office for Masterplug and other companies within the group with functions such as finance, sales and marketing, quality control and graphic design all under one roof.

Mark Owen, operations director for Masterplug, cited Telford's transport links as the main reason for selecting the town.

"Telford's position in the West Midlands and on the motorway network means that we can now distribute to our customers much more cost effectively. Masterplug already has a 67 per cent share of the electrical accessories market and this new location will enable us to grow and continue increasing our market share."

Welcoming the company to Telford, Kim Gilmour, inward investment manager of the Telford Development Agency, said: "Masterplug look set to continue its impressive growth and I am delighted that this next phase will take place in Telford which is fast gaining a reputation as a the location of choice for logistical operations."

Meanwhile, US firm, Protomold, has invested £500,000 in refurbishing a 2,500 sq metre building in Hortonwood and expects to employ 40 staff by the end of 2006.

Protomold worked closely with both Advantage West Midlands and the TDA to set up its UK facility, find the property, suppliers and local services.

Letting agents involved in the move were Bulleys of Telford.

General manager at Protomold John Tumelty said: "The West Midlands is a great place for our business. It brings together all the skill sets we require in our workforce. In Telford we found a central site, a good communications and transport network and an established business location.

"In addition we were able to find the right property at the right price which will enable us to grow as and when we need."

James Warren, market manager, North America, for Advantage West Midlands, said: "Protomold had shortlisted Germany and the UK for its European arm but decided on the UK after it found a buoyant design engineering sector, similar business and taxation laws and of course a shared language.

"We were able to demonstrate that the West Midlands, and particularly the Wolverhampton to Telford Technology corridor and Polymer Cluster, has a body of knowledge in plastics manufacturing and that all the ingredients balance well to create the right business environment."

Mr Gilmour said: " Protomold's investment confirms Telford's position as one of the premier locations for plastics and polymers. It is good to have such young, innovative company join the 130 other overseas firms which help keep Telford in the international spotlight."

Protomold will initially serve the UK and Germany.

The company plan to launch its new operation at the Time Compression Technologies exhibition at the National Exhibition Centre in Birmingham in October.

The Polymer Cluster Centre has been established in Telford to provide access to a package of support and collaborative opportunities for companies in and related to the polymer industry in the West Midlands.