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Carbon wheels manufacturer accelerates with £3.6m investment

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A Chippenham-based manufacturer of performance wheels for cars has promised 'supercharged growth' following a £3.6m investment from Puma Private Equity.

Dymag, which employs 32 staff at Bumpers Farm Industrial Estate, is set to expand its operations in Chippenham in 2019, with a move to larger premises and the creation of new jobs across its design and production departments.

Established in 1974, the company designs and manufactures strong but lightweight carbon hybrid automotive wheels, launching the first carbon motorcycle wheel in 1996 and the first carbon hybrid automotive wheel in 2004.

The drive to reduce weight has become paramount across the automotive industry, with BMW, Rolls Royce, Porsche, McLaren and Ford all launching carbon wheel programmes in recent years.

Chief executive Chris Shelley said: "Following a comprehensive search for the right partner to help us at this stage of our development, we chose to work with Puma Private Equity given the team’s understanding of technology and manufacturing, plus their long-standing commitment to supporting British businesses.

"We continue our goal of making Dymag the technology of choice available anywhere in the world. Working with strategically chosen partners enables us to tune our products and business model to the needs of each market."

Tommy O’Sullivan, managing director at Puma Private Equity, said: "Dymag is positively disrupting the automotive wheel market with its new carbon wheel products.

"Significant investment in its products and processes has strengthened the business and allowed the team to build on the brand’s long-standing motorcycle racing heritage.

"The company is now well- placed to accelerate growth and establish itself as the global leader in this niche market."