Japanese manufacturer to make £100 million investment in Greater Manchester operations

Electronics manufacturer, Astemo, has become the latest Japanese firm to make a major investment in operations in Greater Manchester with the announcement of a £100 million boost for their Horwich site.

The significant investment follows a recent trade mission by Greater Manchester leaders to Japan, which saw Greater Manchester Mayor Andy Burnham visit Astemo in Tokyo, as well as other recent investments by Japanese businesses in Greater Manchester, including June’s £17 million investment by Mizkan into its manufacturing site in Middleton. It also follows an agreement between the British and Japanese governments to further strengthen economic ties between the two countries, which is already one of the leading sources of foreign direct investment into Greater Manchester.

Astemo is a global Japanese company that manufactures electronic systems for vehicles at its plant in Horwich.  The investment will create a new production line to manufacture inverters for electric vehicles, and will create and safeguard around 220 new high-skilled manufacturing jobs at the heart of the EV supply chain. The Greater Manchester site will be the only in the UK with thise capability, further adding to the city region’s automotive supply chain sector and Greater Manchester’s advanced manufacturing capabilities.

Greater Manchester leaders, including Mayor Andy Burnham, Cllr Bev Craig, and MIDAS, Manchester’s Inward Investment Agency, met with Mathieu Devillard, Executive Officer at Astemo in Tokyo to welcome the announcement, and to underline their commitment to Astemo’s ongoing growth and success in the city region.

Mayor of Greater Manchester Andy Burnham said:?

“This investment by Astemo is a huge vote of confidence in Bolton and Greater Manchester. It puts our city-region at the forefront of the electric vehicle revolution, creating high-quality, long-term jobs and opportunities in our advanced manufacturing sector.

“During our recent trade mission to Japan, Bev Craig and I had the opportunity to meet with Astemo. Their long-term commitment to Greater Manchester was clear and they will have our full backing as they look to grow over the coming years.

?“We are proud that our international engagement has made the Greater Manchester the number one UK destination for foreign direct investment outside London. Japanese companies like Astemo have found a genuine partner in our-city region and our growing reputation for innovation is increasingly making us the natural choice for international businesses who want to grow.”

Leader of Manchester City Council and GMCA portfolio lead for economy, business and inclusive growth, Cllr Bev Craig, said:

“Greater Manchester’s economy continues to go from strength to strength, with the new investment from Astemo demonstrating the confidence international businesses have in our city-region, as well as the real economic value being created by our long-term engagement with Japan. This investment also demonstrates the ongoing importance of our international engagement and the opportunities that investors see across our city region.

“Our diverse, resilient economy, worth approximately £80 billion annually, provides the perfect foundation for Japanese companies to establish and expand their UK operations. We look forward to celebrating the depth of our cultural and trading partnership with Japan during Japan Week in Manchester in September this year.”

Joe Manning, Managing Director at MIDAS, Manchester’s Inward Investment Agency, said: 

“This substantial investment from Astemo creates real opportunities for our city-region. With over £100m in confirmed investment supporting 220 jobs, we’re seeing the tangible benefits of our international partnerships, with Astemo being a prime example of this.

“MIDAS has worked closely with Astemo for several years, and it’s fantastic to see the results with an investment of this scale.

“We look ahead to building on the momentum created through this investment.”