One of the UK’s leading manufacturers and distributors of engine management products – Standard Motor Products Europe (SMP Europe) – has brought manufacturing of its high technology electronic systems and sensors back to the UK from the Far East, after securing a D2N2 Local Enterprise Partnership grant.
The business based in Little Oak Drive, Annesley, Nottinghamshire, is investing more than £320,000 in premises, plant and equipment; creating 11 new jobs already.
D2N2’s grant of £81,000, from its Unlocking Investment for Growth (UI4G) programme, purchased new plant and machinery; giving SMP Europe access to the latest technology needed to develop new electronic systems and sensors for the car market.
The D2N2 UI4G programme has been supported by the Regional Growth Fund and the European Regional Development Fund. UI4G grant awards are agreed by the D2N2 Local Enterprise Partnership Investment Panel, chaired by Board member Peter Gadsby. The aim of the fund is to create long term sustainable jobs.
Suky Chahal, SMP Europe’s Group Finance Director, said: “The investment has meant we’ve been able to develop and produce new products, such as engine management sensors, here in the UK. It’s allowed us to make cost savings, offer shorter lead times and improve the overall quality for customers.
“We are gradually able to substitute bought in products with our own manufactured products and this will improve our margins, offer more competitive prices and create even more jobs.”
SMP Europe has already recruited 11 more production and warehouse operatives, taking the total number of full time employees at their Nottinghamshire site to over a hundred. The expansion of in-house production capabilities opens up increased opportunities for the business, including further product development (pictured below) and export growth.
David Ralph, Chief Executive of the D2N2 LEP, added: “We were pleased to be able to accelerate SMP Europe’s move into electronic manufacturing here in Nottinghamshire.
“The investment in new technology was strategically important for the business and there is no doubt that, without the grant, this project may never have happened.”
UI4G is now fully committed and is no longer accepting applications. Grants already approved will create over 400 new jobs and safeguard a further 350. The programme has inspired business owners in the D2N2 area to invest over £20million, alongside the grant support, to grow their businesses.
For further information about Standard Motor Products Europe and its products see its website at www.smpe.co.uk
To learn more about the support given to businesses by the D2N2 Local Enterprise Partnership’s UI4G scheme see its website at www.d2n2lep.org/UI4G
For media enquiries on this news release call D2N2 Communications Officer Sean Kirby on 01159 578749 or email firstname.lastname@example.org