Coventry robotics manufacturer enters Spanish market with €1.4m deal

Posted on 4 Sep 2024 by James Devonshire

A Coventry-based robotics manufacturer has won a multimillion-pound contract in Spain following a €1.4m financing deal.

Having secured funding, Expert Technologies Group has now begun a new project with the Spanish arm of Sumitomo Electric Bordnetze (SEBN), a global supplier of parts for the automotive industry. The project will comprise two brand-new automated auxiliary harness assembly lines for electric vehicles.

Expert Technologies Group, which designs and delivers robotic assembly systems, tools and special machinery that support automation in industry, secured support from UK Export Finance (UKEF), enabling it to access €1.4m in working capital from NatWest to help it deliver the contract, which supports up to 10 jobs within the group.

Angelo Luciano, CEO of Expert Technologies, said: “The support we received from UK Export Finance has allowed us to successfully be awarded the project with SEBN, who are a new customer to ourselves; we look forward to developing the relationship further. This is the first project we have been awarded in Spain since both Brexit and COVID, and we hope that is a catalyst for further projects in mainland Europe”.

Fiona Begley, Export Finance Manager (Coventry and Warwickshire), UKEF, added: “The Midlands is still renowned as a centre of excellence in manufacturing, with businesses like Expert Technologies Group playing a key part in the global automotive supply chain. Support from UK Export Finance means that once again, a UK innovator has been able to take a leap towards new markets and new clients, secure in the knowledge that it has the right financing”.

Duncan Ruffle, Trade Finance Director, NatWest: “We are delighted to be able to support Expert Technologies Group with a trade finance facility backed by UKEF to venture into a new market. This facility is a prime example of how NatWest help businesses in the region and to promote growth in international trade”.

This new support from UKEF is separate to grants which Innovate UK has previously made to Expert Technologies supporting the decarbonisation of the automotive industry.

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