VEHICLE Parts producing company Cobra UK has landed a new £12 million contract with Vauxhall Motors that will see the company double its workforce.
The expansion will mean another 49 jobs as Cobra starts production of high volume vehicle interior load space covers for the new Vauxhall Astra.
Earlier this year Cobra, based on Welshpool’s Buttington Cross Enterprise Park, won the Queen’s Award for Industry in the International Trade category.
Cobra’s Automotive Products Division employs 49 people and manufactures interior car parts for some of the world’s leading motor manufacturers including Bentley, Volvo, Audi as well as Vauxhall owned General Motors.
Cobra has developed a wide spread of markets, particularly in Europe. Trade has also been established in Canada and Brazil and the company has bounced back since the MG Rover collapse in 2005 resulted in them losing 90 per cent of company sales.
Bill Parfitt, chairman of GM UK and Vauxhall Motors and also the first chairman of the Automotive Council’s Supply Group, said: “Vauxhall is keen to build on the momentum and push for new business with UK suppliers to the benefit of local economies and GM globally who are now increasingly aware of the great potential that resides in the UK.
“As an example, Cobra UK has won a number of contracts to supply, from its factory in Wales, to various GM plants around the world.
“From 2012, Cobra UK is scheduled to produce components for Vauxhall’s Ellesmere Port plant in nearby Cheshire where the Astra Sports Tourer is built for the whole of Europe and beyond.
“So far in 2011 alone, more than 120 000 Sports Tourers left the production line.”
Gary Seale, managing director of Cobra UK, said he was delighted that the contract had been secured.
“We have built on our growing relationship with Vauxhall to ensure this fantastic deal,” he said.
“The news that the contract is now secure guarantees current jobs, creates more employment opportunities and means that the company’s expansion plan is right on track. We have proved that we consistently produce the high qualities required by the European automotive industry and this is a real boost for Wales as a whole.
“It is particularly good news that Vauxhall is actively seeking to source supplies from the UK and have recognised Cobra as a major supplier.”
Last year CobraUK secured £500,000 investment from Finance Wales as part of its strategy to remain at the forefront of the automotive interior manufacturing industry.
“We are continuing to work with the Welsh Government to secure additional funds to fuel continuing growth potential,” said Mr Seale.
Glyn Davies, Montgomeryshire’s MP, has welcomed the announcement.
“The news of 49 new jobs is particularly welcome at a time when the entire European economy is going through such a difficult time.