Police want to talk to two youths seen filling petrol cans before a fire which destroyed at least five businesses in Barry Docks.
About 80 firefighters were called to tackle the blaze at the Arcade Workshops Trading Estate in Atlantic Crescent at about 2340 GMT on Sunday.
Factory units and workshops housed inside the building were destroyed and other damage is being assessed.
Firefighters were still working at the site on Tuesday to make the area safe.
Police want to trace two teenagers who filled petrol cans at a nearby supermarket petrol station before the fire started.
Acting Det Insp Joe Sweeney of Barry CID said: "We are treating this fire as suspicious and we urge members of the public to come forward with any information.
"If you saw anyone acting suspiciously in the area during the evening, please call us."
South Wales Police want anyone with information to contact 01656 655555 or Crimestoppers on 0800 555111.
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