Rimstock, manufacturer and supplier of cast aluminium wheels based in West Bromwich, is investing millions for the expansion of its business. The company aims to become the UK's only manufacturer of premium alloy and aluminium wheels.
The company has secured a £12.4m funding package from Clydesdale and Yorkshire Banking Group (CYBG). The funding will be used to build a new plant in West Bromwich. Also, it plans to invest in new machinery and equipment while creating employment opportunities.
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Steve Lane, Rimstock’ chief executive, said: Here at Rimstock, through both our new ownership and the support of CYBG, the investment has provided an immense opportunity to accelerate the company’s aspirations - to be Europe’s, if not the Global, premium alloy wheel manufacturer”.
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“We are Britain’s only OEM (original equipment manufacturer) alloy wheel manufacturer, so to remain at the forefront of advanced OEM wheel design and production, it is crucial we continue to invest in our West Bromwich facility, with over £11 million invested already in the last year, and more to come.”
Mr Lane added: “Exhibiting this week at Britain’s foremost automotive supplier show, Automechanika Birmingham provides us with a tremendous platform to showcase our products and plans for the future.”
Craig Kahler, chairman of Rimstock Holdings board, and director of Safanand, said: “Rimstock has a remarkable history that has put it in the position as the only premium OEM alloy wheel manufacturer in the UK, working with some of the world’s finest automotive marques.
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