Boom time for West Mids manufacturers
West Midlands manufacturers have created more than 1,500 jobs and attracted £1bn of new investment by global car manufacturers this year amid "major growth", it has been claimed.
The figures were released by the Midlands Advisory Service West Midlands (MAS-WM) after manufacturing giants BMW, JLR, Nissan, Vauxhall and Toyota furthered their commitment to bases in the Midlands.
The annual MAS-WM Auto Director's meeting also heard that a 31 per cent increase in export orders has taken place sending a "wave of optimism throughout the chain".
Companies across powertrain, precision components, body and white and interior trim products were highlighted as those which have enjoyed 2011.
The event also heard how natural disasters in Japan and Thailand had made the UK a much safer place to source products.
MAS-WM Auto's Rachel Eade said: "What started as a year of uncertainty has turned into one of the most promising 12-month periods in the recent history of the UK automotive sector.
"The major investments have captured a lot of the media attention, but we are starting to see the spin-offs cascade down the chain with new employment opportunities and continued investment in state-of-the-art machinery.
"What is even more pleasing is that a lot of the optimism stems from the fact the investment will be in future UK manufactured models like JLR's Defender and Discovery, Aston Martin's new city car, Nissan's Leaf and Qashqai and Toyota's future 'c' segment hatchback that will replace the Auris."
More than 50 component suppliers attended the networking event in Birmingham to be given an update on latest industry developments and new funding opportunities through the Advanced Engineering Loan Fund and bank-administered government grants for capital purchases.
Eade added: "We've seen Malvern-based Morgan Motor Company launch its new three-wheeler to global acclaim with orders taken for in excess of 700 vehicles. Most of the parts are sourced from within the West Midlands.
"And CPP Global Holdings also announced that the new Jensen Interceptor will be designed, developed and built in the heart of Coventry."
