Cobra on course for a £4 million turnover

Oct 8 2009 by Graeme Brown, Birmingham Post

A Shropshire automotive manufacturer is on course to grow its turnover by 70 per cent after targeting export deals.

Cobra, which makes products for the automotive interior sector, including Volvo, Volkswagen, Audi and General Motors, is on course to turn over £4 million, compared to £2.35 million last year.

The Whitchurch-based firm was hit hard by the economic downturn, with falling demand for luxury vehicles pushing down orders by 90 per cent.

However, it has won a £7.4 million deal with a Swedish car manufacturer and is targeting further growth with a new lightweight airline seat.

Managing director Gary Seale said: “About 80 per cent of our annual turnover, which was £2.35 million last year, is export business. We expect our turnover to rise to at least £4 million next year and the vast majority of this will be for overseas clients.”

Cobra will supply safety barrier nets, which it developed through an innovation grant from Advantage West Midlands, to the unnamed Swedish car manufacturer over the next seven years.

Meanwhile, the company is targeting the aviation industry with its new airline seat which can also be used in the railway sector and at venues such as football grounds.

Cobra attended a UK Trade & Investment Aerospace Cluster visit to the MAKS air show, near Moscow, in August and has just signed a letter of agreement with two of Russia’s largest aircraft makers, the first stage in a process which could lead to potential sales of over £150 million.

Shropshire international trade adviser Karine Barateau said: “Gary Seale and his team have always been proactive and have diversified into different sectors at the right time. UK Trade & Investment has helped by providing the tools for companies to succeed overseas.”

Established in 2002, Cobra has 37 employees and relocated its main headquarters to Buttington Cross, Welshpool, earlier this year.