Telford-based automotive supplier Exact Systems (www.exactsystems.com) is expanding and creating up to 40 new jobs after successfully securing a funding deal. The company tests and assesses components for leading vehicle manufacturers around the world to ensure the quality and safety of their new cars.

Established in 2004 in Poland, it now has offices in 12 countries and employs more than 5,000 people world-wide. With ambitions to grow in the UK, it has successfully obtained a six-figure invoice finance loan from HSBC, allowing it to successfully bid for a new contract in Shropshire. The funding has also enabled the business to purchase new testing equipment.

General manager David Needham said: “Over the past few years, we have worked hard to establish ourselves in the UK, and we have identified strong opportunities to cement our roots in the country and grow.

"This funding is crucial to our business strategy, and HSBC’s insight into the UK market and industry climate has been essential. Moving into 2018, we are in a great position, not only winning new contracts but also creating vital new jobs for Telford.”

Stephen Peart, HSBC area director for business banking in the Black Country and Shropshire, said: “Exact Systems is a great example of an international business that is committed to positively impacting the economy on a regional level.

"We have been delighted to support the company’s growth in the UK and its expansion has been significant, with local job creation at the centre of its development.”