CREWE-based Bentley Motors has posted record profits of £140million – and announced at the same time it will create 100 more jobs at its Cheshire site.
The company announced today, Wednesday, that its Crewe headquarters will become the centre of excellence for the Volkswagen Group for all W12 engine production from the end of 2014 onwards.
With this decision, Bentley will export engines for the first time in its history, creating around 100 jobs across the business.
Dr. Wolfgang Schreiber, chairman and chief executive of Bentley Motors, said: “This is an important step, not just for Bentley but also for the UK manufacturing sector.
“This W12 centre of excellence is recognition of the long standing engine manufacturing expertise we have that has resulted in performance improvements across the model ranges over recent years.
“The production of this advanced engine and its future generations will bring new technologies and skills to Crewe.”
Business Secretary Vince Cable added: "Our world beating car industry employs 142,000 people in the UK and is worth £11.2 billion to our economy.
“With more than four out of every five cars made in the UK exported to the rest of the world, the news that Bentley will now export engines as well is another feather in their cap.
“The Government's Industrial Strategy is supporting world-class companies like Bentley to create highly skilled long term jobs and promote exports.”
Bentley expects to produce up to 9,000 engines per year at peak times.
The firm’s operating profit for 2013 was £139.7 million, up 66.9 per cent on the 2012 figure of £83.7million.
Turnover grew by 15.5 per cent to £1.40billion, the highest in Bentley’s history. Profit margin increased from seven per cent to 10 per cent.