Tipton-based Cab Automotive, which makes seating, arm rests, dashboard consoles and parcel shelves for companies such as Jaguar Land Rover, Aston Martin, McLaren and Bentley, is expecting to double its turnover to about £40 million by the end of the year and boost its workforce by 30%.
Finance director Richard McCulloch (pictured) said: “We’ve gone from a £20 million turnover in 2012 to a predicted £40 million by the end of this year, with plenty of new opportunities in the pipeline.”
Last year, the company bought its 200,000ft
2 factory after receiving backing from the Government’s Regional Growth Fund.
Mr McCulloch said: “Managing growth was one thing, but we were told by our landlord that our facility could be sold. The only solution was to buy the land, giving us the platform and security to plan for the next decade.”
The company also spent more than £4 million on capital equipment, including a new foam production line, new machines for wrapping BMW Mini arm rests and a new water-jet cutter.