Coventry Robotics Manufacturer Expands into Spanish Market with €1.4m Deal
By Anushka Malhotra
59 seconds
Tech
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Quick Read: Coventry-based Expert Technologies Group secures a €1.4m contract in Spain, marking its first major post-Brexit and COVID-19 project, with financing support from UKEF and NatWest.
Coventry-based Expert Technologies Group has secured a significant €1.4 million contract with Sumitomo Electric Bordnetze (SEBN) in Spain, marking its first major project in the country since Brexit and COVID-19. The deal will see the robotics manufacturer design and install two automated auxiliary harness assembly lines for electric vehicles.
Photo Credit: Expert Technologies
The project was made possible by a €1.4 million financing package from NatWest, facilitated by UK Export Finance (UKEF). This financial backing supports the company’s working capital needs, ensuring smooth delivery of the contract and sustaining up to 10 jobs within the group.
Angelo Luciano, CEO of Expert Technologies, expressed optimism about this expansion, saying,
“The support from UK Export Finance enabled us to secure this project with SEBN, a new customer for us. We hope this marks the beginning of more projects across mainland Europe."
Fiona Begley, Export Finance Manager for UKEF, highlighted the significance of the deal, noting that it reinforces the Midlands' position as a hub of manufacturing excellence.
"Support like this allows UK innovators like Expert Technologies to expand into new markets confidently"
Duncan Ruffle, Trade Finance Director at NatWest, praised the collaboration, saying,
"We are proud to support Expert Technologies Group with a UKEF-backed finance facility, enabling them to grow internationally and explore new opportunities."
This latest venture builds on the company's earlier success, with additional backing from Innovate UK to promote decarbonisation in the automotive sector.
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