Wednesday, July 9, 2014

News: Pyronix expansion backed by Barclays bank

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Rotherham-based security experts, Pyronix, has secured the backing of Barclays bank and the Sheffield City Region's Regional Growth Fund (RGF) programme.

Based in Hellaby, Pyronix is an award-winning manufacturer with an extensive range of electronic security equipment for intruder alarms. The Rotherham site is being extended as additional space for assembly and fabrication has been identified to meet future demands. More of the high end manufacturing is being brought back from China.

Employing 155 staff, and with turnover expected to be over £22m this year, the firm exports to over 70 countries worldwide.

Julie Kenny CBE DL, chair and chief executive of Pyronix, recently explained how the firm aims to replicate its success in the UK - where it sells £11m of products - in target markets such as Italy, Russia and Poland.

Julie Kenny, chief executive, Pyronix Limited said: "Despite the recession and through continuous investment in Research and Development we have launched innovative new products which have allowed us to buck the trend. Having grown significantly in the UK, we are now ready to launch those products globally.

"Because of the company's growth, combined with low interest rates, we decided that the time was right to expand our manufacturing capability and funding from Barclays and with support from Sheffield City Region's RGF programme we can make that investment.

"A key factor in making this investment is that Barclays Bank provides a sound solution for our current operations and future ambitions."

Matthew Chenery, relationship director at Barclays added: "Pyronix is a highly professional and progressive brand that is thriving despite the current economic challenges.

"The management's ambitious growth plans are testament to their success and this is a fantastic opportunity to work with a leading South Yorkshire manufacturer."

The purpose of the Sheffield City Region's RGF programme is to "unlock" direct business investment, principally within SMEs, the footprint of which must be sustainable, private sector employment in the Sheffield City Region.

The investment in the Hellaby facility should secure and extend employment on the site "with particular emphasis on opportunities for R&D and technical staff as well as additional warehousing staff."

Pyronix website

Images: Pyronix

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