Jobs boost in firm takeover

The boss of a Chinese firm which has just taken over a UK car parts factory has told ITV News he will be creating more jobs in a rapid expansion.

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Chinese firm director predicts more jobs as result of Coventry pressworks company takeover

454 people work at Covpress but Mr You told ITV News he plans to take on more.

"Our plans are to grow our business through increasing our international profile and penetration into other old markets. The acquisition of Covpress is an important move for us in our overall strategy. We are the equivalent of Michelin in China. We believe this deal represents two strong companies joining together in a win-win situation."

– You Xiaoming, Managing Director of Shangdong Yongtai

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