Investment in innovation reaps rewards for growing manufacturer

Manufacturer Thermex is reaping the benefits of its growth strategy after securing more than £2m in additional sales.

The Redditch-based business is supplying new technology to customers in the marine and the off-highway vehicle sectors.

It has developed high-performance shell and tube heat exchangers, and it has also expanded its existing range to include air blast radiators, oil coolers and specialist brazed plate variants.

The expansion is on the back of a £1.3m investment programme and support from the Manufacturing Growth Programme.

Julian Crossley, managing director at Thermex, said: “We have enjoyed significant success in 2017 so far, but that is no accident.

“It’s something we have planned for in our business strategy and the recent expansion of our capabilities has given us the platform to launch new products and given us the capacity to take on additional work.”

Thermex, which employs 40 people, is forecasting turnover to hit £6.5m this year.

He added: “There has been renewed interest from the marine sector for our expertise and this has led to the introduction of new liquid cooled charge air coolers that offer greater performance and can be produced for specific applications.”

The Manufacturing Growth Programme is delivered by Leicestershire-based Economic Growth Solutions, through a 19-strong network of experienced manufacturing growth managers.