Erika Marshall
5th October 2016 Nifco UK, which makes parts that are used in the engines, interiors and exteriors of cars made by BMW Mini, Ford, General Motors, Honda, Jaguar Land-Rover, Nissan, Renault, Toyota and Vauxhall Opel, has reported positive growth for the year ending 2015.
Mike Matthews, managing director of Nifco UK, said that the figures reflected a year of managed growth.
He said: “Nifco has seen tremendous growth over the last five or six years, and that upward trajectory continues.
“We are aiming higher though, and last year was one in which we invested significantly in scaling up for the future, with the purchase of a Dynamometer – to allow us to capitalise on new, emerging technologies.
“We will continually reinvest in our people, facilities and technology to allow the business to continue to compete on a global stage.”
Despite the healthy growth, Mr Matthews said that 2015 was not without its challenges.
Mr Matthews added: “The year was not all plain sailing and we faced some significant challenges to achieve the growth we did. And of course, there is a huge amount of uncertainty ahead, but we remain very optimistic about the future.
“Many of the investments we have made over the last few months have increased our capacity and capability to break into new markets and grow our business, and that’s hugely exciting for us and for our future. We look forward to building on our success.”
Commenting on the impact of Brexit, Mr Matthews said: “Brexit has caused uncertainty but as a large percentage of NUK business is exported, either directly or indirectly, the weakness in the pound is currently helping exports – which may well underpin our growth targets.”
Nifco is one of the region’s best known success stories, having gone from a loss-making business on the brink of closure ten years ago, to a business that is often referred to as a poster child for the UK automotive industry’s renaissance.