First phase of £300m Chinese investment creates 50 jobs

THE first 50 jobs of a hoped-for 1,000 jobs are being created by a Coventry automotive firm that signed a multi-million-pound investment deal with a Chinese company.

China Red Sun Group plans to invest £300m in CAD CAM Automotive (CCA) and the company has begun investing in technology and machinery, as well as people.

It also plans to move to new headquarters and open a research and design centre in the region.

Martyn Wheeler, managing director of CCA, said: “It’s a very exciting time for the company and the first stages of the growth strategy are now being implemented.

“We are looking at purchasing new machinery and equipment in the next few weeks that will run into millions of pounds’ worth of cutting edge technology, while a further 30 staff are being added on top of the 20 we have already recruited.

“Our growth is going to be very strong and very quick and we are just putting the building blocks in place now to allow all of that to happen.”

Craig Humphrey, managing director of the Coventry and Warwickshire Growth Hub, which has been assisting CCA, said: “The potential for growth at CAD CAM is huge and that is what attracted China Red Sun Group’s investment.

“The team here at the Growth Hub have lent a range of support to the company – CAD CAM is a great example of the breadth of help we can offer. It’s great to see that is already resulting in new jobs with many, many more to follow and there are very exciting times ahead.”

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