Skills investment helps Midlands firm triple profits

Posted on 8 May 2009 by The Manufacturer

Investment in skills has helped Midlands-based Power Panels Electrical Systems to beat the recession, triple its profits and win four prestigious industry awards.

The awards include the newly established Skills Development Award organised by the National Skills Academy for Manufacturing (The Skills Academy) in conjunction with Cranfield School of Management.

David Fox, Power Panels chairman and chief executive, said, “The key to winning in the recession is learning. At Power Panels we see training as an investment and take a strategic approach to organisational learning. Every employee gets 200 hours training each year and this approach has helped us to grow our turnover four-fold and triple our profits in seven years.”

The Skills Academy believes that Power Panels’ other three awards – Best Factory and Best Electronics and Electrical Plant and Best Small Company – are a direct result of the company’s investment in training. It urges other UK manufacturers to wake up and take a systematic approach to work-based learning during this recession.

Contact: : Sue Tupling 01785 247588