Magal Engineering Ltd secured a £1m investment from Finance Birmingham’s Tooling Fund to enable them to supply automotive components for Jaguar engines. The deal created 12 new jobs and safeguarded another 56.
Magal
Engineering is a UK based automotive component and system manufacturer, which
designs and produces components for global names such as Jaguar Land Rover,
Ford and Daimler.
Magal’s CEO Gamil
Magal said:
“Magal’s ability to
supply components to Jaguar relied on our ability to acquire new equipment and
take on more staff. Finance Birmingham’s loan will enable us to deliver this
contract efficiently and on time. This is a new step forward for Magal, which
will help us to realise our future as an integral part of the UK’s growing
automotive sector.”