A Black Country manufacturing group has secured a new £1.2 million funding deal with HSBC to support its growth plans and contract wins with global car manufacturers.

Complex Cold Forming, based in Wednesbury, works with companies in the automotive, oil and gas, shipbuilding and rail sectors and has recently won contracts with Ford in the US and Europe.

The company, which makes products such as shafts, plugs and nuts using cold forming methods, said it planned to add more new contracts with automotive firms over the next 12 months.

Complex Cold Forming has worked with HSBC's south west Midlands commercial team to help finance accelerated sales growth with asset finance to fund new equipment.

It has invested in plant and machinery on the back of the growth of the business and the latest addition is a six-station cold forging machine which, it says, will be the most capable machine of its type in the UK.

This latest investment complements seven new computer numerical control machines recently added.

Technical director Paul Bailey said: "Thanks to the support HSBC has shown us, we have been able to invest in equipment needed to ensure we can continue to offer the latest design ideas to our customers and through this we have secured over £4 million worth of future business for innovative projects."

Complex Cold Forming's history dates back to the 1920s but it was acquired by its current management team in 2009.

Based at a 45,000 sq ft site, the company employs 40 people which is double its payroll in 2009 with a further 15 new jobs expected to be added over the next three years.

HSBC area commercial director Andy Willett added: "Complex Cold Forming received fresh impetus when its new management took over in 2009 and the growth of the business can be tracked to that moment.

"It has developed excellent relationships globally within the sectors it serves and has not been afraid to invest when opportunities present themselves."