Coventry manufacturer relocates to support growth

A FAST-growing Coventry company is expanding its operation with a move to new premises.
 
NSL Automotive Components, which re-manufactures steering systems and sells its products to garages, distributors and motor factors as well as to private motorists, is relocating to give it the capacity it needs to sustain its upward development.

The move comes as the company has broken the £1m annual turnover barrier it had set itself. The performance represents a tripling of the turnover achieved just 12 months ago and follows the direction set for the business by new owner Mick Parsons.

A local man – and a former employee of the business – Parsons acquired the business, formerly known as Coventry Power Steering Specialists, in August 2013, renaming it using the initials of the names of his three children.
 
Having broken through the £1m a year barrier, he is now investing a six-figure sum into the business to support its growth.

The business is moving to a new factory unit on the New Inn Bridge Industrial Estate off the Foleshill Road, which is three times as large as its former premises. The extra space will better accommodate the dozen workers and provide enough capacity for the extra work.

Parsons said: “I said when I took over we would reach £1m turnover a year but I didn’t expect it to happen quite so quickly. Everyone has worked so hard and we have won a lot of orders.
 
“Turnover was £360,000 when I took the company over but I always thought we could do much more. At one point we thought we were at capacity here but with a bit of reorganisation we were able to increase productivity.
 
“We are all very excited about moving to our new premises because at 6,000 sq ft it is far larger and opens up more opportunities for us.”