Precision tool maker invests for growth as demand climbs
East Yorkshire-based Paragon Toolmaking has further invested in high-tech machinery with a £450,000 spend set to speed up production and increase automation when manufacturing precision tools.
General manager Kevin Batty says the equipment is essential to ensure the Hull business can continue to meet increasing demand for its expertise.
Established in 1969, Paragon’s clients come from sectors including automotive, construction, aerospace, pharmaceuticals and white goods.
Parts and products manufactured with tooling made in the company’s factory are used by brands such as Range Rover, Siemens, Audi, Ford, VW, BMW, Mini and Lotus.
Now, the company has acquired a CNC (Computer Numerically Controlled) machine, which works at twice the speed of machinery previously used by the Paragon team.
A new automated 700mm by 1,000mm surface grinder will also help increase production speeds, freeing up team members to work on other projects.
The latest investment follows the purchase of a computer numerical controlled coordinate measuring machine (CNC CMM) last year, as owner Daniel Beaumont, who bought the business two years ago, seeks further growth.
Batty added: “Daniel has invested heavily in the business since he bought it as he recognises we have the potential to grow our customer base.
“Between 70% to 80% of our business each year is from repeat customers, from customers requiring a couple of tooling projects a year to others needing more than 400 tooling projects.
“Now the aim is to keep growing and adding more new customers, as we did last year, and to ensure we can do that we have needed to invest, which Daniel is fully supportive of.
“The new equipment will make a big difference to our production abilities, which gives us the extra capacity to take on more orders.”