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.
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.”