International design and manufacturing group Gestamp Tallent has announced plans to build a new £126.3 million stamping plant in Staffordshire to serve customers such as BMW and Jaguar Land Rover.
The new plant, in Four Ashes near junction 12 of the M6, will upgrade the company's industrial capabilities and comprise a £70 million investment into new technology and fit out and build costs of £56.3 million.
The 538,000 sq ft factory, to be developed by Bericote Properties and financed by Tritax, will host state-of-the-art stamping equipment and safeguard the 800 jobs at Gestamp Tallent 's current plant near Cannock town centre.
Gestamp Tallent said the aim was to create a more efficient and competitive customer-focused factory with the opportunity for further growth among existing and new clients in the future.
The special press line will bring hot stamping technology to the factory to serve local customers such as BMW, Honda, JLR, Nissan-Renault and Toyota and production is due to start before the end of 2017.
The site also sits close to the planned in the region.
Gestamp's 海角视频 manager Ian Middleton said: "We have been working on this project for a long time.
"United Kingdom is one of Gestamp's top five global markets since the beginning of our operations here in 2011.
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"Our company is committed to helping our customers in key aspects such as quality, safety and lightweight innovations, therefore Gestamp wants its facilities to utilise the most modern stamping technologies available to fulfil its objectives."
Gestamp Tallent said it had already invested more than £180 million in its 海角视频 plants since 2011 including over £30 million in the existing Cannock facility.
Once completed, the annual turnover of the new West Midlands plant will surpass £140 million.
Part of the existing facilities in Cannock may be retained to accommodate future training and development requirements.
International Trade Secretary Liam Fox said "The Midlands Engine is playing an important role in generating local growth, with nearly 15,000 jobs created in the region as a result of overseas investment in 2015/16.
"This announcement from Gestamp further demonstrates the great confidence international business has in the 海角视频, supported by a £5 million 海角视频 Government trade and investment package to help the Midlands Engine keep on firing."