PALMIERA, Portugal — Nova Motorsport is investing $22 million at its recently acquired CNB/Camac tire factory in Palmeira in a project that includes incorporating motorsport tire capacity from the former Cooper Tire plant in Melksham, England.
The project also provides "improvements to services and site infrastructure, refurbishment of existing equipment, and a complete overhaul of office spaces," the company said.
Nova Motorsport acquired Portuguese tire maker Companhia Nacional de Borracha S.A. (CNB-Camac) in April as part of its plan to become a full-fledged competition tire supplier.
That deal followed Nova's February purchase of assets related to the manufacturing and sale of certain motorsport tires under the names "Avon Motorsport" and "Avon Racing."
The investment includes a "significant extension" of the factory footprint and will enhance the quality and capability of the existing Camac facility while enabling it to develop ranges of motorsport and specialist tires.
Nova Motorsport was founded earler this year with the aim of being a leading supplier of specialist tires for low-volume automotive manufacturers, connoisseurs and private collectors.
The investment is part of Nova Motorsport's goal to establish a "centre of tire manufacturing excellence in Europe," James Weekley, Nova Motorsport commercial director, said.
The next step, Weekley said, is to produce the first Avon Motorsport products in Portugal and "we remain firmly on track to achieve that."
Nova Motorsport has also initiated an "extensive recruitment campaign" targeting talent in manufacturing, engineering, technical and commercial roles.
The company added that it has now integrated its engineering and design resources into the Camac facility and upgraded lab and testing facilities at the site.
