Cab Automotive in Tipton makes £1.7m investment
A car interiors company in the Black Country is investing £1.7 million in specialised equipment after winning a new contract.
Cab Automotive in Tipton, which makes seats and interior trims for major automotive manufacturers, has won £20m worth of new orders in the last 12 months.
The company's latest contract success will see the £700,000 invested in bespoke tools and £1m in a manufacturing cell following funding from Yorkshire Bank's Business and Private Banking Centre in Temple Row, Birmingham.
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The news comes just months after the company announced it would be creating 15 new jobs as a result of Jaguar Land Rover's announcement that it will create 1,100 new posts.
Richard McCulloch, finance director at Cab Automotive, which is based in Sedgley Road East, said the investment was a requirement to fulfil a new contract with a major customer which was due to begin in November 2013.
He said: "We will be manufacturing seat foams for a new vehicle which will start production next year."
Brian Colquhoun, regional director at Yorkshire Bank added: "Cab Automotive is a fantastic example of a business which has the manufacturing expertise to help drive the automotive industry forward in this country."
