Expansion into global markets, streamlining of supply chains and a growing desire from customers to source in the UK have all been pinpointed as reasons to be optimistic that the Cheslyn Hay manufacturer can more than double its turnover in the next three years.
The West Midlands-based firm had a turnover of £22m last year and has added more than £10m to its turnover since the economic downturn. It has also increased its workforce by 100 to more than 230 staff.
Tony Glasscoe, the new sales director at PP Electrical Systems, is looking to build on recent growth and sell more through its a new technical and sales office in Hamburg and take advantage of interest from North America.
The company is benefiting from the number of Formula 1 teams based in the UK, which led to a strengthening of the supply base.
The company is often the first critical link in a supply chain that will ultimately lead to it influencing the performance of a F1 car, how a potentially life saving medical examination is conducted and how energy from renewable sources is captured.
Mr Glasscoe believes the breadth of the company, covering electrical, electromechanical and electronic assemblies and control systems, will help it secure new business.
“We’ve only scratched the surface on some markets and I believe there’s a lot more potential in medical, renewables and with machine builders who want to outsource more of the assembly” said the new sales director.
The company has invested over £1m over each of the last two years. It has installed new automation, including cable cutting, stripping, marking, termination and automatic crimp force monitoring.
PP Electrical Systems believes that by cutting manufacturing lead times, freeing up capacity and reducing costs and overheads associated with materials and planning, it can reduce the risk for companies that it works with.
“I am delighted to be joining the business at what is an extremely exciting period in its development,” he added.