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Belfast car parts giant Montupet sees profits drop to £13.7m

By John Mulgrew

Belfast car parts maker Montupet has seen a small dip in its pre-tax profits, falling to £13.7m.

The firm, which produces cylinder heads for some of the world's largest car makers, saw turnover dropping slightly to £85m for the year ending December 2015.

Pre-tax profits dropped from £15.6m to £13.7m.

The company's workforce grew from 585 to 593 during the same period.

Montupet has operated in Northern Ireland since 1989, using the former home of car maker DeLorean.

Last year, the company announced a new £140m contract for the Dunmurry plant.

Earlier this year, Montupet’s French parent company was taken over by family-run Canadian firm Linamar.

Last month, Montupet said a £7m deal with giant Jaguar Land Rover "could open up" further major deals in the coming years, after it fought off stiff competition from European rivals.

Alan Malcomson, engineering manager at Montupet said Brexit isn't slowing the burgeoning business down, and it doesn't have "any immediate concerns".

"Its an important boost to us," he told the Belfast Telegraph. "The volume for this isn't that big, and is up to 100,000 (units) a year.

The firm manufactures cast aluminium cylinder heads for petrol diesel engines used for car makers Ford, Peugeot, Citroen, Volvo, Fiat and Mazda.

But it's now landed a deal to produce cylinder heads for one of the fastest growing car firms in the world - potentially worth tens of millions in future sales.

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