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Monday, December 14, 2009

'Milestone' electric truck deal - A Great Milestone For Modec

A-great-milestone-for-MODECModec Ltd, an electric van manufacturing company in Coventry has signed a "milestone" agreement with a US firm to jointly produce zero-carbon trucks in North and South America.

Modec Ltd was established in September 2004 and employs 85 staffs at its plant on Binley Industrial Estate.

It was honored a £23m grant by the US government for the Navistar venture in August.

The founder of this successful organization is, Lord Jamie Borwick. He said: "The expectation is we will be bringing in a second shift in Coventry starting from next autumn."

Modec finance director Colin Mills said: "It's been a great milestone for us and something we've been working on for the past six months."

"It gives us a global sales channel all the way from Coventry through to North and South America, which is a big beginning for such a small company."

Earlier this year the regional development agency Advantage West Midlands has lent Modec a government loan of £4mm for its business plan.

Business Minister Pat McFadden on visiting the plant on Thursday said that the public investment had helped to secure skilled jobs in the West Midlands region and has also helped to develop the UK supply chain.

posted by All America Auto Transport @ 2:36 AM permanent link  

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