Car parts firm: Business is 'growing exponentially'

The managing director of car spare parts manufacturer Elring Klinger (GB) has said that his business is "growing exponentially" as the economy recovers.

As the ONS announced growth in the UK economy in the first three months of 2014, Ian Malcolm said his firm had "come a long way" since the economic crisis of 2008 and 2009.

Mr Malcolm added that its rapid recovery was a result of the automotive industry being "hit hardest and quickest" in the downturn, but now bouncing back quicker in the recovery.

Read: Going is good for the economy - but how long will it last?

Read: UK economy grows by 0.8% in first quarter of 2014

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UK economy grows by 0.8% in first quarter of 2014

The UK economy grew by 0.8% during the first quarter of 2014, the Office for National Statistics estimated today.