Latest news: 100 engineering jobs set for Coventry

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Coventry-based engineering firm Penso could be set to create as many as 100 new jobs in the city after it secured a funding package worth £1.4million. 15/01/2013

According to the company, it is aiming to almost double its workforce after purchasing its factory, which was previously owned by another business, in a deal with £2million.

The agreement will allow Penso to install new high-tech equipment to produce market-leading composite carbon fibre automotive parts and continue to provide consultancy services and parts to its clients, which include Jaguar, BAE and Land Rover.

Bosses expect this will boost its turnover from £16million to £25million over the next 18 months.

Speaking to the BBC, technical director of the company Dave Roach revealed that Penso will be hoping to find staff that already have the right skills for the vacancies.

'We've often found staff from similar backgrounds, but we've still had to train them up ourselves from scratch and invest heavily in training,' he said.

This comes after Steve Grant, managing director of TTE Technical Training Group suggested to the Northern Echo that the government needs to spend more on improving engineering training in the UK.

He went on to state that engineering graduates are 'fantastic assets' to companies, offering 'both practical experience and high academic qualification'.