A company that has thrived supplying the automotive sector is to diversify into new markets after winning funding from a nationwide government project.
More than 20 new jobs will be created and 57 other posts safeguarded by the move into the medical sector by Expert Tooling and Automation following funding from the Growing Places initiative.
The firm, which specialises in the design and manufacture of production equipment and robotic automation for the automotive sector, is expanding into automated machinery to make medical devices and supplies.
The company, based at Banner Park, Coventry, has received a £230,000 grant from the second round of the Growing Places scheme after receiving approval from the Coventry and Warwickshire Local Enterprise Partnership.
The business will now invest a further £1.2 million in refurbishing and upgrading 10,000 sq ft of its entire 50,000 sq ft premises to meet the quality requirements of the medical sector so that it can begin to manufacture medical equipment next summer.
Angelo Luciano, managing director of Expert Tooling and Automation, said the company would no longer be so heavily reliant on the automotive sector.
“We currently design and manufacture for the automotive industry and our clients include JLR, Ford, Aston Martin, McLaren and Bentley. We have an opportunity to manufacture equipment for the medical industry, such as inhalers,” he said. Mr Luciano added that the Growing Places grant had sealed the company’s decision to invest in the diversification plans.