Anchor Magnets set to attract new business
Magnetic print media specialist Anchor Magnets has invested more than £250,000 of capital investment into the business in order to improve on record turnover in the first half of the year
Friday, 05 Sep 2014 12:34 GMT
Anchor Magnets posted record turnover in the first half of 2014
In the first six months of 2014, the firm posted record turnover of £3.1m and has now set its sights on further success.
Under the investment strategy, Anchor Magnets has tripled its conversion and cutting capacity for sheet magnetic material, and also has plans for further expansion to machining capabilities for its extrusion plant.
Warren Turner, managing director at Anchor Magnets, entuses: “We have seen healthy growth across the business and this has created a need for targeted capital investment.
“Crucially, we needed to be better placed to react to customer needs and increased demands and to create greater capacity so that we can plan for, and manage, further growth.
Crucially, we needed to be better placed to react to customer needs and increased demands and to create greater capacity so that we can plan for, and manage, further growth”
“In less than 12 months, we have tripled our capacity for conversion and cutting of magnetic sheet and we have significantly increased our laminating facilities.
“Since the company was formed, back in 1984, we have consistently grown and adapted to meet a very diverse range of customer requirements and this pace of change has forced the need to streamline our entire sales, manufacturing, purchasing and finance systems through an integrated ERP system, which was a £150,000 investment on its own.
“And the investment will continue with approximately £25,000 earmarked for new machinery in our extrusion department and we are currently considering ways to reconfigure some of our manufacturing facilities and to free up much needed inventory space.”
