The EIB has agreed to provide GBP 12 million for investment
OREANDA-NEWS. The European Investment Bank has agreed to provide GBP 12 million for investment by Newton Aycliffe based Gestamp Tallent Automotive. This will support new investment to strengthen innovation and development of specialised chassis and suspension products at the world class component manufacturer.
“The European Investment bank has a strong track record supporting investment to strengthen the world class leadership of UK industry. We are pleased to continue our cooperation with the UK automotive sector to finance significant new investment by Gestamp Tallent in Newton Aycliffe.” said Jonathan Taylor, European Investment Bank Vice President.
Gestamp Tallent has six plants in UK where the Company uses the highest industry standards like Hydro Forming that allows make lighter and safer car components. In terms of R&D, the company has a center based in Newton Aycliffe. Gestamp Tallent innovation focuses on co-development with its customers, an area that is expected to show a notable increase in the coming years, and also on using advanced manufacturing and various material bonding processes. Tallent supplies the global automotive industry including Nissan, Jaguar, Land Rover, Bentley, Ford and Toyota.
Over the last decade, in response to requests from public sector and private business clients, the self-financing European Investment Bank has provided more than GBP 2.6 billion for transport, education, social housing, water, energy, healthcare and urban regeneration investment across the north-east.