An automotive industry supplier is creating 50 jobs – despite the tough economic climate – after expanding in new premises.
Metafin Group Holdings are moving to a new 8,000 square metre site in Walsall and plans to create the new jobs over the next three years.
The family-owned business, which provides electro-painting and powder coating services predominantly to the motor industry, had outgrown its existing site on Green Lane in Walsall.
The news comes after it was claimed that about 1,500 new jobs had been created in the automotive supply chain in this region this year.
Metafin chief executive David Parker said: “We had previously considered moving to bigger premises pre-recession but with the pressures facing the motor industry at that time and in consultation with our bank, we took the decision to put the move on hold until the economic climate improved.
“We were very keen to maintain our Walsall ties and stay within the area for our workforce and to protect the heritage of the business. This new site in Northcote Street will provide the company with the space it needs to accommodate future growth and to continue to develop our workforce. We expect to start operations in the new premises by the end of 2012.”
The company, which currently has 120 employees, was given financial support from Barclays Corporate.
Meanwhile, the Manufacturing Advisory Service–West Midlands (MAS-WM) Auto Directors’ annual meeting heard this week that the region’s automotive supply chain had seen £1 billion of new investment by car makers in the last year.
Firms have enjoyed a 31 per cent increase in export orders and early estimates suggest in excess of 1,500 jobs have been created in 2011 alone.
Companies across powertrain, precision components, body and white and interior trim products have reported significant volume increases and are expecting continued growth after BMW, Jaguar Land Rover, Nissan, Vauxhall and Toyota strengthened their commitment to bases in the Midlands, the North East and the South.