Bradford-based Produmax is celebrating after increasing turnover by 55%, almost doubling headcount to 75 people and securing contracts worth more than £50m.
Produmax specialises in the manufacture of flight control components and assemblies, supplying world-leading aerospace giants such as Boeing, Bombardier, Moog and Meggitt.
The family-owned business exports upwards of 80% of production to countries including the US, Canada, Japan, Morocco, the Philippines, and Italy.
In recognition of its impressive success, Produmax has received the national Sharing in Growth ‘Inspire’ award.
The trophy was handed over to directors Jeremy and Mandy Ridyard by Sharing in Growth chairman, Dr Bryan Jackson CBE in front of the 75 strong Produmax team.
There were also 30 guests in attendance including customers Boeing, Moog and SL Engineering, and partners such as the Advanced Manufacturing Research Centre, Bradford council, Keighley College and the West Yorkshire LEP.
The event took place in Prodmax’s new 15,000 sqm plant in Baildon which is due to be officially opened later this year. This second plant – named Produmax Plus – is part of the firm’s ambitious growth strategy which is being supported by Sharing in Growth.
Handing over the Inspire trophy, former managing director of Toyota UK and current SiG chairman, Dr Jackson, said: “When I read reports that GDP is flatlining, I tell people to visit Produmax to understand how to improve productivity.
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“It’s about culture and harnessing team effort to achieve results, so you should be very proud of what you have achieved as a team.”
Moog’s global manufacturing engineering manager, Allan Jamieson commented: “I travel around the world constantly and see lots of factories.
“Anyone can buy the latest manufacturing and measurement technology however success comes down to people, I know its people that make a successful factory.”
Produmax joined Sharing in Growth (SiG) in 2014 and last year won the first Sharing in Growth Ikigai top trophy. The judges reportedly selected Produmax for this year’s Inspire award because the company has put engagement and people development at the centre of the business.
With help from SiG, as well as Bradford City Council and the local LEP, Produmax invested in its new plant, along with the latest machining technology, and developed the skills of its team.
This helped to double the return on assets, improved productivity by almost 40% and won three new customers so Produmax could further invest in the future including the new Produmax Plus plant on the same Baildon site.
The company has also set up links with universities, colleges and schools, has created its own apprenticeship programme and will shortly launch a leadership development programme.
Sharing in Growth is the aerospace business transformation programme, set up by industry in 2013 and supported by the Regional Growth Fund and more than £150m in private investment.
It is endorsed by Airbus, BAE Systems, Boeing, Bombardier, GE, GKN, Leonardo, Lockheed Martin, MBDA, Rolls-Royce, Safran and Thales because it is helping the UK advanced manufacturing supply chain to become more competitive and win a larger share of global aerospace contracts.
More than 60 companies either completed or are completing the multi-year SiG programme and have secured more than £2.5bn in contracts to date.