A cluster of leading Swedish industrial companies could be set to establish a UK office in Coventry.
Techtank – cluster of 21 businesses ranging from large manufactures to small engineering companies in the South of Sweden – visited the city last year and now four of its members want to establish a permanent base in the city.
The companies have been introduced to the area and its potential for investment by the CW LEP’s Growth Hub and engineering consultant Paul Sullivan, who is based in the city.
Craig Humphrey, managing director of the CW Growth Hub, said: “This really is very good news for Coventry and Warwickshire. The visit in November went very well and we were able to showcase the range of potential customers for members of Techtank.
“Now after weighing up the potential of Coventry and Warwickshire and how our industries fit with their strengths and capabilities, they have decided to actively move to establish a physical presence here in the city.
“We are working with Paul and his company 52 Global to now move that to the next stage.”
Anders Borgehed, Cluster Development Manager at Techtank, says that there is a great appetite to inward investment in the UK.
“Many of our member companies are suppliers to the manufacturing industry, not least the automotive sector. Some of them are already doing business in the UK.
“We have recognised the enormous growth and potential, and would like to increase our presence here. We are therefore looking to establish a location in the UK which we think will open up new opportunities for our companies.
“Coventry is without a doubt our preferred city to do the launch because of its manufacturing and economic status.
“The two areas have many things in common, and I think that both can gain from developing the relationship. Our regions also have great support from both sets of Civic leaders.
“In addition to that, it is also beneficial for us to take advantage of the various support services available, for example by CW Growth Hub and Chamber of Commerce in Coventry.”
The four companies are EBP, PE, Safeman and YTAB who are all involved in different aspects of design and manufacture, with considerable experience in automotive.