740 automotive jobs saved in bid to bolster UK supply chain

Liberty wants a UK dominant auto supply chain Liberty wants to establish a UK dominant automotive supply chain
Metals trading firm, Liberty House, has acquired metal stamping and robotic assembly specialists CovPress, securing 740 skilled jobs at the firm's plant in Coventry. The automotive Tier 1 supplier has been searching for a buyer since entering administration last September.

Sanjeev Gupta, executive chairman of the Liberty House Group, said: “There exists a huge opportunity for Britain’s industrial supply chain to achieve dynamic growth through becoming more innovative and competitive. By adding quality operations like CovPress to Liberty’s already thriving network, we aim to play a leading part in this landmark economic shift.”

Liberty Industries Group, part of Liberty House Group, already has 17 engineering businesses employing over 1,000 people across the West Midlands. It regards the CovPress acquisition as a strong strategic fit with its established and rapidly-expanding presence in the automotive supply chain.

Only three weeks ago the Group completed the purchase of the UK’s only aluminium smelter at Fort William and announced plans for auto-component manufacturing there as part of a £450m industrial and energy investment in the Scottish Highlands.

Liberty and sister company, SIMEC, aim to reduce reliance on imported parts in automotive supply chain. It said over 50% of parts used to assemble over one million cars in the UK is imported. The Group’s strategy is to create a fully-integrated UK industrial supply chain, from raw metal production through to highly-engineered products.

Author
Justin Cunningham

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