A REDDITCH company has secured more than £2million in additional sales after diversifying into new markets.
Thermex Ltd, which employs 40 people at its factory on North Moons Moat, is heading towards a £6.5m turnover in 2017 after winning work to supply new technology to customers in the marine and the off-highway vehicle sector.
Supported by the Manufacturing Growth Programme (MGP), the company has developed high-performance shell and tube heat exchangers, as well as air blast radiators, oil coolers and specialist brazed plate variants.
It follows an extensive £1.3m investment programme that has allowed Thermex to continue to diversify and develop bespoke performance coolers for turbo charged engines for marine and industrial applications.
“We have enjoyed significant success in 2017 so far, but that is no accident. It’s something we have planned for and the recent expansion of our capabilities has given us the platform to launch new products and given us the capacity to take on additional work,” said Thermex Ltd managing director Julian Crossley,
The firm has also been focused on reducing energy costs.
It turned to the MGP to help with initial planning, who then brought in Pro Enviro’s Nersi Salehi to oversee the implementation of the new processes.
These focused on installing new energy efficient ovens and gas powered heating and drying systems, as well as introducing greater awareness amongst the workforce of their responsibilities.
The MGP, which is funded by the European Regional Development Fund (ERDF) and delivered by Economic Growth Solutions (EGS), offers access to industry specialists and the opportunity to apply for grants of up to £3,500.
For further information visit http://bit.ly/2lKNo2P. More detail on Thermex Ltd can be found at www.thermex.co.uk .
