British Company Cosworth to Open $30 Million US Plant in Detroit
British company Cosworth, a brand long associated with specializing in powertrain products and electronics for performance cars, has publicized it will construct a new $30 Million facility 20 miles North of suburban Detroit. The facility, which will use advanced technology to restructure manufacturing, will start its operations in 2018. However, the company through its CEO, Hal Reisiger, declined to state which company they will be manufacturing for and only mentioned that the company in question makes high-performance road cars. Reisiger further said that the new business would be flexible enough to make plans to create parts for different high-performance locomotives and clients.
The new factory, which will base its operations in Shelby Township, Michigan, will produce V-8 cylinder heads and parts for alternative performance engines. Cosworth, whose US business is mainly in Indianapolis, chose Michigan over a site in Indiana primarily because of its nearness to the client base. Cosworth also disclosed that it would, in the future, enlarge the Shelby Township facility or develop other sites as part of its growth program. Once the plant starts manufacturing, Cosworth will find new partners for the US factory.
The Michigan Development Corp (MEDC) approved a $2.1 million loan to Cosworth. In the statement, Cosworth said the plant would generate at least 110 jobs, while the MEDC put the number at 50. Reiger stated that this was an important step in the accomplishment of the next steps for Cosworth in North America. He further said that the support of MEDC to create new jobs and economic value in Michigan would help their locomotive vehicle clients and the local economy while empowering their industry to secure further prospects for growth and development. This facility will be Cosworth's sixth unit in the Waterside Enterprise Zone.