Wheelmaker Rimstock accelerating with West Bromwich expansion a year after takeover
A year after its takeover, alloy wheel maker Rimstock is forging ahead with building a huge 100,000 sq ft new factory in West Bromwich.
The company is investing millions in its expansion as it plans to build on its position as the UK's only manufacturer of premium alloy and aluminium wheels.
This week, it’s exactly 12 months since Rimstock announced that it had been acquired by a group of investors; global investment firms Safanad and Current Capital together with British entrepreneur, David Roberts who became the executive chairman.
It has also secured £12 million of funding from Clydesdale and Yorkshire Banking Group(CYBG) to support the growth work.
The company's chief executive, Steve Lane, said: "“Here at Rimstock, through both our new ownership and the support of CYBG, the investment has provided an immense opportunity to accelerate the company’s aspirations - to be Europe’s, if not the Global, premium alloy wheel manufacturer.
“Since we announced to our people and wider stakeholders our change of ownership 12 months ago today, our focus has been to complete our new construction adding 100,000 square feet of new plant; investment in state of the art equipment; IT ; and most importantly, our people.
“We are Britain’s only OEM (original equipment manufacturer) alloy wheel manufacturer, so to remain at the forefront of advanced OEM wheel design and production, it is crucial we continue to invest in our West Bromwich facility, with over £11 million invested already in the last year, and more to come.”
Mr Lane added: “Exhibiting this week at Britain’s foremost automotive supplier show, Automechanika Birmingham, provides us with a tremendous platform to showcase our products and plans for the future.”
Craig Kahler, chairman of Rimstock Holdings board, and director of Safanand, said: "Today, we commemorate 12 months since our acquisition of Rimstock, which has experienced a tremendous transformation over the past year.
“Rimstock has a remarkable history that has put it in the position as the only premium OEM alloy wheel manufacturer in the UK, working with some of the world’s finest automotive marques.
“Being forward looking is critical, and with investment in career development, equipment, IT systems and physical infrastructure, we are committed to ensuring that Rimstock continues on its exciting path, that will create opportunities for us all.”
In addition to making alloy and aluminium wheels for major carmakers Rimstock also supplies car parts retailers and garages – the so-called aftermarket. The company also supports more than 40 motorsport series worldwide with its Pro Race motorsport alloy wheel range – including the UK’s premier motor racing championship, the British Touring Car Championship.
As well as building its vast new factory, Rimstock recently introduced a new corporate image and launched a new website rimstock.com. The factory construction is continuing at a pace and the company is hoping to be in production from the new facility later this year.
The aim is to become a supplier for premium carmakers across the UK –including Jaguar Land Rover, Aston Martin, Bentley and Morgan – winning work for a British factory that has previously gone to manufacturers overseas.
