Provided by the European Investment Bank, the investment will help the company in the creation of specialised chassis and suspension products.
With six plants across the UK, Gestampt Tallent uses the highest industry standards, such as Hydro Forming, allowing the firm to make lighter and safer car components.
The company supplies the global automotive industry including Nissan, Jaguar, Land Rover, Bentley, Ford and Toyota.
European Investment Bank vice president Jonathan Taylor said: “The European Investment bank has a strong track record supporting investment to strengthen the world class leadership of UK industry.
“We are pleased to continue our cooperation with the UK automotive sector to finance significant new investment by Gestamp Tallent in Newton Aycliffe.”
Other recent support for North East businesses, from the European Investment Bank, includes:
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