Newton Aycliffe-based automotive component manufacturer, Gestamp Tallent Automotive has been awarded £12 million in funding to support the development of new products.
The finance which will be provided by the European Investment Bank will assist Gestamp Tallent with the creation of specialised chassis and suspension products.
The UK based company currently supplies the global automotive sector with a range of products, including Nissan, Jaguar, Land Rover, Bentley, Ford and Toyota.
“We are pleased to continue our cooperation with the UK automotive sector to finance significant new investment by Gestamp Tallent in Newton Aycliffe,” said Jonathon Taylor, vice president of European Investment Bank.
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