Investment helps Cube's export success
Cube Precision Engineering, established in 2009, is now supplying leading manufacturers around the world with press tooling and sub-contract multi-axis machining from its headquarters at Cakemore Road, Rowley Regis.
From winning the Overseas Success award from Made In The Midlands in 2013, the company’s export revenue in 2015 accounted for 46 per cent of its total revenue with most of that to European countries.
Joint managing director Neil Clifton explained: “The growth of our business has been on the back of investment in new machinery and building a dependable supply chain. We found our British customers were impressed with the communication they received from our staff at all levels, in turn, recommending us to their worldwide purchasing teams. We now export to five European countries and have experience with Indian and South Korean customers too.”
The company now employees 60 staff across two sites, which include the recently acquired GFP Tools at Peartree Business Park, Dudley.
The tooling made by the company produces parts that end up across a variety transport solutions. “We have made tools that make parts for Jaguar Land Rover, Aston Martin, Lamborghini, Ferrari and Mclaren, as well as a majority of the recently introduced aircraft A350 and A380 and in January we won a substantial package of work on the A330 Neo, said Mr Clifton.
“As the debate over The UK’s position in Europe moves towards the June referendum, it is not just FTSE businesses that will be affected by the decision,” he added.
Cube Precision Engineering secured a £200,000 cash investment from Finance Birmingham last autumn which enabled it to fund production of new tooling for the bumper on the Land Rover Discovery and create two new toolmaking jobs.
The funds also enabled the creation of two new jobs within the toolmaking department.
The backing by Finance Birmingham was part of its £24 million Tooling Funding Programme, supported by the Regional Growth Fund.
The programme is designed to help toolmakers and component manufacturers fund the design, development and manufacture of tooling or to expand their tooling capacity. Businesses can apply for funding between £50,000 to £1m.
Read more at http://www.expressandstar.com/business/business-picks/2016/03/15/investment-helps-cubes-export-success/#41UvIBylS2tTATBP.99