Aston Martin puts suppliers on alert as it embarks on £500m investment

Automotive supply firms in the West Midlands have been put on alert as a major manufacturer prepares to step up production.

Warwickshire-based sports car manufacturer Aston Martin is embarking on the largest growth phase in its history – including the opening of a new factory in Wales.

Supply firms in Coventry and Warwickshire – as well as those further afield – have been told the expansion is likely to mean new supply orders.

The alert went out as the Coventry and Warwickshire Chamber of Commerce staged a manufacturing networking event at Aston Martin’s Gaydon headquarters.

Those present were told by purchasing director Richard Jesson that the famous company was investing £500m in the production of new models – including its first ever crossover.

The expansion will see the company release a new model every nine months through to 2020, he added.

“This could mean big opportunities. We are investing heavily and we will need to find new supply partners,” Mr Jesson told businesses at the event.

“Currently, 34% of our suppliers are in the UK and 40% of those are in the Midlands and we’re always looking for the most competitive, receptive and innovative suppliers to work with.

“If those suppliers are local, it can make life easier logistically for us but there are several measures in place and, really, what we want to do is work in partnership with companies.”

He said the partnership would be a two-way relationship with suppliers encouraged to come back to the OEM with suggestions and innovation around products and parts.

“It’s all about forging the right relationships. We want to invest in the local community and support the local economy so I would encourage potential suppliers to find out about opportunities available to them,” he said.

Zoe Sweeney, of the Coventry and Warwickshire Chamber of Commerce, said the networking event had been staged as direct result of feedback from supply chain members.

“They wanted events tailored specifically to their sector and to be able to meet and speak to like-minded business people,” she said.

“Aston Martin was the perfect venue to stage our first event and it really was a great success.

“It was extremely positive to hear Richard saying that they are open to hear from local suppliers.”