Tipton-based Cab Automotive is targeting the fastest growth in its nine-year history on the back of the UK’s thriving motor industry.
Multi-million pound deals to supply parts to Mini and Renault are helping the West Midlands manufacturers towards a record £40 million turnover with the expectation of creating up to 80 new jobs.
Finance director Richard McCulloch said: “We’ve gone from £20m in 2012 to a predicted £40m by the end of this year, with plenty of new opportunities in the pipeline.
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.
“Working with MAS’ (Manufacturing Advisory Service) 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. Without the strategic and financial support we received we may have had to look outside the region for our next base, which wouldn’t have been ideal from a skills point of view.
“Thankfully, we are here to stay in the Black Country and will hopefully be in a position to create more local jobs shortly.”
Ninder Johal, vice president of the Black Country Chamber of Commerce, added: “It is another good news story for the region and capitalises on the recent growth in the automotive sector.
“It comes after further good news from Jaguar Land Rover about increasing its investment and the number of jobs it is creating.
A consequence of this is that the supply chain will benefit, which will lead to increased jobs and a much more favourable environment for the local region.”
CAB Auto’s Mr McCulloch added: “The automotive sector is continually changing and you have to continue to offer added value and innovation to remain competitive and in a position to bid for new platforms and models.
‘The acquisition of our Tipton plant is fantastic news as we have a real centre of excellence here featuring a dedicated paint plant, leather cutting facility, injection moulding, specialist welding and a highly skilled trim department.
“We’ve worked with MAS for four years now, accessing support on quality, lean manufacturing, leadership training and in the installation of new machinery. The help has been essential and a key driver in our unbelievable growth.”
