Suspension engineering and manufacturing company Supashock will transform and relocate its operations from Magill to northern Adelaide, creating more than 60 new jobs in the process.
The company, which started off as a supplier of suspension products for Formula One cars, is now a supplier for V8 supercars, commercial vehicles, defence vehicles and medical devices, with employment growth of about 50% in each of the past four years.
Supashock Managing Director Oscar Fiorinotto said the move was made possible by the $2 million in funding awarded under the South Australian Government’s Future Jobs Fund and the Automotive Supplier Diversification Program.
He said Supashock will use the money to increase production capacity and invest in new engineering and manufacturing capabilities that will foster employment growth.
“Supashock is an innovative, engineering and technology based company with enormous potential in Australia and globally,” Mr Fiorinotto said.
“Our growth will be determined by our capacity to respond to the rapidly growing demand for our state of the art intelligent suspension systems.
“This grant will enable Supashock to relocate and significantly expand its production and employment as the first stage of a planned global growth strategy for the company that will be centred in South Australia.”