Major Chinese company Red Sun Group has bought an unidentified stake in Coventry based CAD CAM Automotive (CCA) and plans to invest £300 million over the next five years to help boost the business. The first stage of this will be an initial £50 million investment to create a new centre to look at energy, vehicle research and development. The company will move to this new purpose-built facility when it is finished, creating 1,000 new jobs in the process.
CCA has enjoyed a lot of success supplying high technology parts to renowned manufacturers like Aston Martin and Jaguar. The company has a fantastic reputation and can trace its roots back over 100 years in the UK. Their plan for the future proved to be very attractive to investors and encouraged Red Sun Group to make their move. The aim is to enrich both the upstream and downstream supply, unlocking new opportunities for the company.
CCA is currently in the process of looking for a development site for their new facility. They are currently based at a 30,000 square foot facility in the Foleshill suburb to the north of Coventry. The aim is to build the new facility in the area so the company can continue the long association they have had with the city. The location will also be ideal because it is close to the centre of the UK and all of the great transport links.
CAD CAM Automotive currently employs 200 people but once the new facility is built and the move takes place they could have over 1,200 employees. The potential for new automotive jobs for the region is really great, particularly because people will be employed to use cutting edge technology to develop new products. This raises the potential for some fantastic careers.
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