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Cosworth Northampton factory 'to create 70 jobs' Cosworth Northampton to create direct 70 jobs and 200 for suppliers
(about 1 hour later)
Engineering company Cosworth has said it is planning to build a new factory in Northampton, creating about 70 jobs. Cosworth Engineering is planning to build a new factory in Northampton, creating about 70 direct jobs and up to 200 for suppliers.
The company, which makes products for the automotive, aerospace and defence markets, said the factory would be built on an undisclosed site. The firm said it had secured a contract to make engine components for an unnamed "performance vehicle" builder.
A company spokesman said an announcement with further details of the development, including its value, would be made in November. Chief executive Tim Routsis said it was an expansion for the company that would come on stream in June 2014.
He said the move showed the company's "future commitment" to the town. "We are expanding our capacity into component manufacture and engine assembly," he said.
'Expand footprint' An announcement with further details of the development, including its value, is expected in November.
BBC Northampton political reporter Willy Gilder said about 70 new jobs would be created as a result of the development. Mr Routsis said the move showed the company's "future commitment" to Northampton and was a new avenue of growth for Cosworth.
A Cosworth spokesman said: "Cosworth has announced its future commitment to Northampton and is looking to expand its footprint in the town. Sourcing finance
"We are on the verge of an exciting development in manufacturing capacity that will see jobs created." He said the firm was "fortunate to have earned a contract" and it was now targeting more, similar deals with "original equipment manufacturers".
He said "private discussions" were under way on the value of the contract and the number of jobs that would be created. "We are currently evaluating three locations all in Northampton," he added.
The company, which is based in Northamptonshire, also has a site in Cambridge.The company, which is based in Northamptonshire, also has a site in Cambridge.
Northampton Borough Council said it would comment later. David Mackintosh, leader of Northampton Borough Council, said the announcement had been made at a Northampton is Alive event on Friday.
"The audience heard how Cosworth will be investing in new manufacturing facilities and creating jobs," he said.
"This is another positive announcement for our successful Enterprise Zone.
"We are seeing new businesses investing in Northampton, and our established business community is expanding."