Finance Birmingham provided Cube Precision Engineering with £200k investment to enable the company to produce new tooling for bumpers for the Land Rover Discovery. The deal will create two new jobs and further growth is expected in the Computer Aided Design department as well as the Computer Numerical Control machine facility.
Founded in 2009, Cube
Precision Engineering offer design and manufacture of press tools for the
Automotive and Aerospace industries.
Neil Clifton, Director of Cube Precision Engineering, said:
“Securing tooling funding from Finance Birmingham has been the key driver to enabling organic growth in our business. The ease of access to the funding has meant that we were confident of taking on new work and employing new staff on the basis our cash flow, throughout the payment terms of the project, would be supported.
“Through this deal, we can forge relationships with companies like Jaguar Land Rover and expand our portfolio to win further contracts.”