Engineering group on course for £7m revenue target

Denton, Greater Manchester-based engineering and fastening manufacturer and supplier Francis Kirk Group is celebrating the third anniversary of its purchase of the Philidas self-locking nut brand with a growing order book and worldwide opportunities which are driving significant increases in turnover at the firm.

Bought at the end of 2013, FKG invested in the Philidas brand and manufacturing operation to maintain full control of a specialist metal locking nut product that is sold into safety critical areas for a huge range of industrial and domestic applications.

Philidas is now expected to deliver a £5m turnover for the firm this year – a significant increase on last year’s £3m figure – and consistent with growth since purchase. The brand was worth just £1.5m in 2013.

It has a key part to play in the company’s wider aspirations to take overall company turnover by the end of 2017 from £4.75m to £7m.

Philidas serves automotive, rail, aerospace, earth moving plant equipment, mining, renewable energy and electrical appliances sectors and has The London Underground, Bombardier, JCB, Toyota, Renault and Citroen among some of its end customers.

In the last three years Philidas has been streamlined and rebuilt and, as a result, new markets have been opened up in India, Iran, South Korea, Japan, and USA as well as increasing European distribution channels. It is currently looking to formalise trading relationships in Germany, Italy, France, South Africa and Australia.

Working in partnership with The Alipour Company in Tehran, FKG is building on Philidas success by offering a single source fastening and cutting tools solution to manufacturers throughout the region.

Philidas nuts lock on a bolt in any position, designed to create the most convenient and practical fastening method for any industry or domestic application.

The Philidas range is manufactured in Pune, India, from where Francis Kirk Group produce and distribute to customers worldwide.

Managing director Thomas Kirk said: “Philidas is a major success story and spearheads our commitment to providing high quality fastening solutions for a range of industries.

“Our 36-month investment in manufacturing, improving standards and range options on Philidas has put us in a strong position in many world markets and we look forward to another good year of growth.”