Jobs boost as Chinese firm takes over Coventry presswork company

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.You Xiaoming is managing director of Shangdong Yongtai - a huge Chinese tyre and car parts firm described as the Michelin of China.

Today it is announcing a £30 million takeover of Coventry firm, Covpress, which presses car body panels and parts for, among others, Jaguar Land Rover. It's a joint venture with TIA Treadsetters, based in Telford in Shropshire.

Shangdong Yongtai has sales of £2.7 billion. This is one of the largest investments by the Chinese into the Midlands since the takeover of MG UK.

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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.