A manufacturer of automotive parts has upgraded its facilities after securing a new funding package.
Opus International Products has used the funding to invest in advanced machinery for its new 40,000 sq ft warehouse in Leamington Spa.
The new equipment has enabled the business to increase manufacturing capacity by 80 per cent.
The upgrades includes machines for producing plastic and metal components, such as powertrain assemblies, as well as multiple injection mould machines for the manufacture of automotive and off highway vehicle components.
Sign up for your free West Midlands newsletter and follow us on LinkedIn
Email newsletters
BusinessLive is your home for business news from across the West Midlands including Birmingham, the Black Country, Solihull, Coventry and Staffordshire.
Click through here to sign up for our email newsletter and also view the broad range of other bulletins we offer including weekly sector-specific updates.
We will also send out 'Breaking News' emails for any stories which must be seen right away.
For all the latest stories, views and polls, follow our
Opus said the investment was expected to boost efficiency by 40 percent, adding an extra 160 hours of machining time per week by running overnight.
Additionally, the deal has resulted in the recruitment of five new employees dedicated to the new warehouse.
The business said it expected the new funding result in a profit increase of £1 million a year.
Most Read
Opus was founded in 2013 and specialises in manufacturing automotive parts for the interiors, exteriors and sealing systems of vehicles.
Managing director Suzie Siddall said: "This deal has enabled us to expand and improve our operations.
"We were able to install the latest machinery, helping us improve efficiency and overall profit while keeping Opus at the forefront of market developments."
The undisclosed funding deal was agreed with Birmingham-based HSBC 海角视频.
Relationship manager Steven Eames said: "We're keen to support advanced manufacturing businesses like Opus as they target growth by investing in technology.
"The new machinery is a key part of the business's plans to expand and elevate its operations."