50 new jobs at Welshpool car parts firm Cobra

Up to 50 jobs will be created at a Powys engineering company over the next 12 months after it won a £56 million contract.

Bosses at Cobra UK's factory, in Welshpool, have secured a seven-year export deal to supply the automotive sector in Thailand, Brazil and Indonesia.

And there are also plans for the company to expand into the aerospace sector by designing prototype lightweight aircraft seats.

The car parts firm, which currently employs 49 people, is on target to turn over £8.7 million this year and hopes it will rise to £15 million next year when its exports are also set to increase from 60 per cent to 90 per cent.

Cobra's success will be highlighted at a business innovation seminar in Llandudno on Thursday after it secured support from the Welsh Government Business Innovation programme to develop new products.

Cobra UK designs, develops and manufactures a range of innovative products for vehicle interiors for clients that include Bentley, Volvo, Audi and General Motors.

Gary Seale, managing director, said support from the Welsh Government Business Innovation programme had been instrumental in the company's success.

He said: "Our expansion simply would not have happened without the support and funding we received."