Business relationships between Wales and Israel are like 'a partnership made in heaven', according to the Israeli Ambassador to UK on a visit to a hi-tech firm based in Newport yesterday.

Mark Regev, who became Israeli Ambassador to UK last year, was visiting Israeli-owned firm SPTS Technologies at the Coldra.

He told Business Argus: "This is my first visit to Wales since becoming ambassador last year. I wanted to come here to SPTS as this is a prime example of co-operation between Wales and Israel and how it can help both countries."

SPTS Technologies, is owned by Orbotech. It designs, manufactures, sells, and supports advanced wafer processing equipment and solutions for the global semiconductor and micro-device industries, with focus on the Advanced Packaging, MEMS, high speed RF device, power management and LED markets.

It was bought by Orbtech in 2014 for £234m.

Mr Regev, who was joined on his visit by AM Mohammad Asghar and Philip Kaye, Honorary Consul to Israel in Wales, said: "Now the UK has taken the decision to leave the European Union, the relationship between Wales and Israel will become more important. We know that hi-tech is the future.

"By partnering together we can do so much, such as providing good high paying jobs in the local economy. It is good for the Israeli parent company, which is enjoying the excellence that you have here. It is almost a partnership made in heaven and I am very optimistic about the future."

He said Wales and Israel were about the same size geographically but Wales had hi-tech excellence both in industry and with students coming out of universities.

Kevin Crofton, president of SPTS Technologies and Corporate Vice President at Orbotech, was on hand to show Mr Regev and the other guests around the hi-tech facility at The Coldra.

Following the Brexit Referendum, Kevin was appointed to the European Advisory Group by First Minister Carwyn Jones. Kevin is also the newly appointed chairman of the Compound Semiconductor Applications Catapult to be located in South Wales.

SPTS has manufacturing facilities in Newport, Allentown (USA, Pennsylvania), San Jose (USA, California), and operates across 19 countries in Europe, North America and Asia-Pacific.