Cab Automotive has secured £7m of new contracts to supply parts for the new BMW Mini and the seat foams for the Renault van which it believes will help it push turnover towards the £40m level and increase the workforce by 30%.
It marks an exciting twelve months for the company which has seen it work with the Manufacturing Advisory Service (MAS) to develop new opportunities and, importantly, buy its 200,000 sq ft factory in Tipton.
Finance director Richard McCulloch acknowledged the help of the Manufacturing Advisory Service (MAS) in facilitating Cab Automotive’s growth.
“Managing this growth was one thing, but at the same time we were told by our landlord that there was a chance our facility could be sold. The only solution was to buy the land, as that would give us the platform and security to plan for the next decade,” he explained.
“Working with MAS’ Rachel Eade we developed an application to the Regional Growth Fund that saw us successfully secure £1m towards the £4.5m total cost of the purchase.
Cab Automotive said it had spent more than £4m on capital equipment, a state-of-the-art foam production line, new machines for wrapping BMW Mini arm rests and a new water jet cutter.
The company’s other customers include Bentley, Jaguar Land Rover, Aston Martin, Nissan, Toyota and McLaren Automotive.
Copyright Ken Hurst 2014