40 new jobs coming to Telford as Exact Systems expands
Forty new jobs have been created as part of the expansion of a Telford-based automotive business.
Exact Systems, which tests car components for the automotive industry, will expand its base in Four Oaks after winning a six-figure finance package from HSBC.
Established in 2004, the business has offices in 12 countries and employs more than 5,000 people globally.
With ambitions to grow in the UK, the business recently obtained a six-figure invoice finance loan from HSBC, allowing it to bid for a new contract in Shropshire.
Exact Systems was successful in winning the contract and, as a result, the business has been able to expand its presence in the UK by 25 per cent, creating 40 new local jobs in Telford.
The funding has also enabled the business to purchase new testing materials and equipment, which will help Exact Systems in the delivery of large-scale contracts without impacting on the business's cash flow.
David Needham, general manager at Exact Systems, said: "Over the past few years we have worked hard to establish ourselves in the UK and we have identified strong opportunities to cement our roots in the country and grow.
"The funding has been crucial to our business strategy and their insight into the UK market and industry climate has been essential.
"Moving into 2018 we are in a great position, not only winning new contracts but also creating vital new jobs for Telford."
Stephen Peart, HSBC area director for business banking in the Black Country and Shropshire, added: "Exact Systems is a great example of an international business which is committed to positively impacting the economy on a regional level.
"We have been delighted to support the company's growth in the UK and its expansion has been significant, with local job creation at the centre of its development.
"We look forward to continuing to work with David and his team in further expanding their opportunities in the UK in 2018."
HSBC's relationship manager in the Black Country and Shropshire, Alex Richards, led the deal for Exact Systems and continues to provide financial guidance as the company progresses its growth strategy.