Auto supplier targets growth after £0.5m investment

A BLACK Country manufacturing firm is investing in growth after securing record sales.

Petford Tools has exceeded the £14m annual sales barrier for the first time in its 42-year history.

The firm, based in Peartree Lane, Dudley, is a specialist toolmaker for plastic injection, compression and composite moulds. It has reported 15% annual growth for 2011 after landing a string of new orders from the automotive and agricultural sectors.

Building of this and backed by support from the Manufacturing Advisory Service-West Midlands Auto programme, the company has invested £560,000 on a new KraussMaffei 1600 tonnes injection press.

The investment will help it increase capacity, improve quality and introduce faster lead times when dealing with larger components.

Melvin Sinar, managing director, said: “This is a really exciting time to be involved in the business and, whilst there are obvious pressures out there in manufacturing, we have some exciting opportunities ahead of us.

“We have seen growth across all areas of the business, but especially in the automotive sector where we currently supply Jaguar Land Rover, Bentley, Nissan, Ford, Toyota and Aston Martin, where our tooling has been responsible for every exterior Fender used in their cars over the last 10 years.”
 
Mr Sinar, who first joined the company 28 years ago as an engineering and toolmaker apprentice, said demand from other manufacturing sectors had helped to propel sales through the £14m barrier.

“There has also been an increase in orders from JCB and white goods and we are certainly benefitting from global companies looking to source closer to home after disasters in Japan and Thailand,” he added.

The firm, which currently employs 89 people, started life as a toolmaker in 1969 after two ex-chain makers saw a gap in the local market, is now targeting sales of £20m within the next five years.

Rachel Eade, Cluster Manager at MAS-WM Auto, said: “Petford Tools is a great example of how targeted manufacturing support can help a company reach its full potential.

“Even during the global recession, the company has grown year-on-year and we will continue to work with the management team to help it achieve its £20m target.”

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