A Coventry manufacturer’s in talks to buy luxury car maker Spyker.
CPP, who employ 250 people, have already started producing one of the Dutch company’s models at a new £1 million factory at Whitley.
They’re now trying to buy the whole business in a deal that’d be worth £27 million – having confirmed the creation of 40 new jobs last week.
Brendan O’Toole, managing director of CPP, said: “This acquisition will be very positive news for everyone connected with Spyker.”
“We’re absolutely confident that independent ownership will enable us to rapidly progress an invigorated business plan, to which CPP is fully committed.”
“We’re ramping up production of customer cars in Coventry and we have well developed plans to expand the product range further, and the future for the Spyker brand is incredibly exciting.”
“This could be great news for the city and really is a positive move for the automotive industry in Coventry. It will also mean more manufacturing jobs being created here.”
Coventry Council leader John Mutton said: “This is fantastic news – for CPP and for Coventry. We have a long and rich tradition of vehicle manufacturing so I am delighted that we could once again be back at the forefront of vehicle engineering.
“This is really exciting stuff and it has the potential to create even more highly skilled jobs for local people – at CPP but also right through the supply chain.”
See also: CPP Manufacturing – the hidden car maker
