Cygnet revenues double to £16m
REVENUES at Northwich-based manufacturing group Cygnet doubled to £16m in 2011.
The family-owned firm, which underwent a group restructuring during the year, said that its workforce also doubled to 96, and that it is planning to take on a further 40 staff.
The new posts in engineering and administration will be created at its Cygnet Integrated Solutions arm, which is relocating to new premises at Midpoint 18 business park following recent growth. The company provides bespoke automation machinery to companies in a variety of different industries.
Cygnet Group was founded in 1974 and is run by managing director Matthew Kimpton-Smith.
He said: “Our growth is the result of many months of hard work from our team and to sustain it we are reinvesting our profits straight back into developing our infrastructure and people, as well as building a core team of specialist suppliers and sub-contractors to help us manage fluctuating demand and maintain our flexibility.
“Our sales funnel is stronger than ever and based on confirmed projects we expect to double turnover again in 2012.”
Cygnet Group comprises three specialist engineering businesses servicing the aerospace and automotive, fibre and fabric processing, and subsea oil & gas sectors. It also has a recruitment agency aimed at finding engineering staff for projects.
