Sarginsons plans to invest on the back of record year
April 10, 2019
A Coventry manufacturer plans to build on its best ever year by investing in further expansion of its city engineering facility.
Sarginsons Industries, a world-leading lightweight castings company based in Torrington Avenue, has revealed that it grew turnover from £6.5m to £8.4m in 2018, which included a significant increase in profits.
The company, which employs 83 staff, had been looking to expand into new premises in the region for over a year but was struggling to find a suitable location.
Instead, Sarginsons now plans invest £300,000 on an upgrade to its current HQ that will help to modernise the facility and future-proof the company.
It would see the company ‘over-roofing’ the present building which will open up significant space within the unit and allow the company to lay out the factory floor in a more efficient way.
Sarginsons has been investing in R&D and new technology on an ongoing basis and the changes to the property will allow the firm to ensure it is making the most of that investment to continue its growth.
Anthony Evans, managing director of Sarginsons Industries, said the firm was investing in the future.
He said: “This is a very exciting period for Sarginsons. We had been looking for more than a year at the possibility of moving because we are expanding rapidly.
“It was important to us to stay in this area because our workforce is here, we are well connected in terms of the supply chain and we see this as the perfect base for high-class manufacturing and engineering.
“However, we hit a brick wall when it came to finding a new home so we have worked with consultants and have come up with the plan of over-roofing the building. It allows us to expand the internal space, increase the working heights and lay the factory floor out much more efficiently for the way we want to work.
“It means we can stay exactly where we are and achieve our growth plans.”
Sarginsons counts Jaguar Land Rover and Aston Martin as clients as well as a series of other manufacturers in the region and beyond.
Anthony said: “We were thrilled with the financial results in 2018 and we have seen that continue at the start of 2019.
“The reason we have invested in technology and skills is so that we can continue to offer clients leading-edge design and manufacturing as they continue to push for increased lightweighting in their own products.”
Pictured (left to right): Mark Nicklin, Elliot Eaton and Kevin Brierley (all Sarginsons)