The Nuneaton branch of a tool manufacturing business formed more than 100 years ago in Detroit, is looking to create new jobs after securing crucial funding.
Cogsdill, which was formed in 1914 as a cutting tool, regrinding and repair service in Detroit, has had a UK base in Nuneaton for over 60 years, most recently moving to the Bermuda Industrial Estate in 2014.
Now, the firm has secured funding for crucial equipment in the shape of a £120,000 Doosan milling machine and a £45,000 Co-Ordinate Measuring machine, just weeks after contacting the Coventry and Warwickshire Local Enterprise Partnership Growth Hub for assistance.
The CWLEP Growth Hub is a partner in Coventry & Warwickshire Business Support programme for which Coventry City Council is an Accountable Body and is part-funded by the European Regional Development Fund.
CWLEP Growth Hub has a team of dedicated account managers who help put businesses on the right path towards growth, whether that is through funding, networking opportunities or advice.
Money to go towards the two pieces of equipment was secured within six weeks of Cogsdill making contact with the Growth Hub.
Finance Manager Lloyd Spencer said: “This machinery is going to enable us to be more efficient and productive, we are really taking a step up from our current equipment.
“We believe this will lead to us eventually creating up to five jobs over the next 12 months.
“Working with the Growth Hub has given us tangible results almost immediately.
“We were unaware of the funding available before Growth-Hub pointed us in the right direction.”
After starting life in the USA’s famous ‘motor city’ and building a second home in the UK, the family business is now headquartered in Camden, South Carolina.
It is currently owned and operated by the second and third generation descendants of Stuart Cogsdill, who built the companies foundation on manufacturing special tools for early automotive pioneers such as Henry Ford and the Dodge brothers.
Now, the 40 plus staff in Nuneaton will be taking advantage of top of the range machinery to supply the leading industries and manufacturers of today.
Lee Donaldson, Executive Director, said: “our customer base has grown to several different markets including aerospace, oil and gas, renewable energy along with our automotive roots and motorsport.
“These are very demanding sectors and we needed this investment to satisfy our growth objectives and customer requirements.”
Gary Thyeson, account manager with the Coventry and Warwickshire LEP Growth Hub, said: “Cogsdill has a long and successful history, which we are pleased to be able to help continue here in Nuneaton.
“We are particularly pleased to have been able to help Cogsdill access funding so soon after we were initially contacted by them, which shows how quickly we can act and the wide range of services we can offer.
“We look forward to seeing Cogsdill grow over the coming years after this boost.”
Kieran Bal, Business Development Advisor at Coventry City Council said: “It’s great to see the difference our funding has made to Cogsdill and we look forward to helping other likeminded, ambitious companies in the future”.