Stadco is set to build on the continued success of the UK automotive sector with an investment totalling £30m which will see further expansion.
£15 million investment in the latest stamping and assembly technology. This comes as a result of a major new contract for the manufacture of aluminium and steel stampings and sub-assemblies for a leading automotive OEM.
This is on top of £15m of investment announced in 2013 for new transfer presses, which will be operational during the fourth quarter of this year.
The new contract will involve work going into both its Shrewsbury and Telford facilities and will see employee levels in its UK operations exceed 1,100 during 2015.
Business Minister Michael Fallon said: “Stadco is continuing to invest, expand and create new jobs in Shrewsbury and Telford.
“Its success reflects the resurgence of the UK automotive industry, which is also going from strength to strength. Last year more than £2.5 billion of investment was announced, plus the creation of over 5,000 new jobs.
“We are investing £1 billion jointly with industry to keep the UK at the cutting edge of automotive technology. As part of our industrial strategy we will continue to work collaboratively to give companies the confidence to invest and create strong growth for the future.”
Stadco will have created 400 new jobs since the opening of its Telford facility in 2010, of which 200 will be required during 2014 and 2015.
Shrewsbury’s investment will see the installation of fully flexible automated cells capable of producing 260,000 assemblies per year across a range of vehicle models with production due to commence later this year.