Just a year on from its takeover by industrial investors, the Wrexham-based manufacturer Cobra Automotive Engineering is to change its name in a bid to grab £3m of new contracts in automotive, aerospace and new generation low carbon vehicles.
Cobra will now be known as Applied Component Technology (ACT) – a change that it hopes will help it tap into demand for lightweight ‘eco’ parts.
The new corporate identity marks the company’s one-year anniversary following its purchase by investors Pemberton Capital and the appointment of Bob Woods (pictured, right, with colleague Nick English) as managing director.
In that time, ACT said it had re-established its presence as key supplier of interior trim technologies and products to global tier 1s and car markers.
All 75 staff had been retained and, following recent wins to supply a plastic bumper part for a luxury vehicle manufacturer and new low weight load floor, the company says it is confident about creating new jobs in 2014.
“We are really excited about the new brand as it marks the next stage of our development and reflects more closely the services and products we now provide,” explained Woods.
“Over the last twelve months we noticed that the mass reduction technology we’ve developed could be applied to lots of different markets, including aerospace, rail and marine, so felt having ‘automotive’ in our name restricted us somewhat.
“The signage at our factory has been changed and the website is now live. We’ll also be promoting the new brand at a forthcoming SMMT Forum event in March.”
ACT, which boasts £7.5m of sales across eight countries, has also made a number of high profile appointments to bolster its senior management team.
Copyright Ken Hurst 2014