Welshpool car parts firm Cobra UK plans 50 new jobs
Tuesday 14 June 2011 6:07 PM
A car parts firm plans to create 50 jobs after winning a £56m export deal in Thailand, Brazil and Indonesia.
Cobra UK, which supplies trims for Bentley, Volvo, Audi and General Motors, expects to double its workforce, while it forecasts turnover will rise by 40%.
The firm in Welshpool, Powys said exports were set to rise from 60% to 90%.
Cobra is also extending its product range to the aircraft industry.
The company makes trim products for car interiors ranging from loadspace covers, treadplates to sunblinds.
It received help with its export deal from the Welsh Government's business innovation programme.
Part-funded by the European Regional Development Fund, it is geared to help companies in Wales identify opportunities for improvement and growth.
Cobra UK's managing director Gary Seale said support from the business innovation programme had been instrumental in the company's success.
"Our expansion simply would not have happened without the support and funding we received which enabled us to test and validate new designs and products," he said.
"It enabled us to expand our product range, increase exports and grow the business which includes plans to create 50 new jobs."
Cobra UK has branched out into the aerospace industry, and is developing a prototype lightweight aircraft seat.
Minister for Business, Enterprise, Technology and Science, Edwina Hart, said she was pleased companies like Cobra UK were directly benefiting from the initiative.
"We want to help businesses become more competitive and I hope they take advantage of Business Innovation which is one element of the comprehensive support available from the Welsh Government to stimulate business growth," she added.
The company's success will be highlighted at a business innovation seminar at Venue Cymru in Llandudno on Thursday between 0900 and 1300 BST.
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