Friday, May 20, 2016

News: Pyronix acquired by Hikvision - significant investment planned

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One of Rotherham's manufacturing success stories, Pyronix, has been acquired by China's Hikvision, the world's largest supplier of video surveillance products and solutions.

Based in Hellaby, Pyronix is an award-winning manufacturer with an extensive range of electronic security equipment for intruder alarms.

The firm sells around £11m worth of security products to the UK market and new markets export markets such as Italy, Russia and Poland have been identified where the aim is to replicate the sales success.

Listed on the Shenzhen Stock Exchange where it has a market capitalisation of $18 billion, Hikvision was established in 2001 and boasts "the industry's strongest R&D workforce" and state-of-the-art manufacturing facilities to design and develop innovative CCTV and video surveillance products.

In 2015, the Hangzhou-based company captured 16.3% of the global market share in CCTV and video surveillance equipment and reported more than 5% growth over the previous year. The company enjoyed $2.82 billion in total sales revenue in 2014.

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The deal, for an undisclosed amount, sees Jiang Feng Zhi, become chairman of Pyronix. Julie Kenny CBE DL, the founder and major share holder has led the growth of Pyronix as chair and chief executive.

Founded in 1986 and now in its 30th year of operation Pyronix employs around 155 staff in the manufacture, sales, production and distribution of high quality security alarms, and with turnover around £22m, the firm exports to over 70 countries worldwide.

Julie Kenny, founder of Pyronix, said: "This acquisition represents a huge opportunity for Pyronix, Rotherham, and the region. The foreign direct investment that this will bring to the UK will be huge. Hikvision has big plans for the growth of Pyronix and the continued development globally. In the last 15 years Hikvision has demonstrated what can be achieved in the video surveillance market. With this guidance, Pyronix can achieve great things in the global market place."

Jiang Feng Zhi, chairman of Pyronix, added: "These are exciting times for Pyronix and Hikvision as the two companies work together. Hikvision has plans for significant investment in the UK and particularly in its UK-based manufacturing, with plans to dramatically expand operations. We are delighted to welcome Pyronix to Hikvision group, and we look forward to growing the business through introduction of intruder alarm products to the global market."

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The companies believe that with Hikvision applying Pyronix expertise and know-how in intrusion detection systems to its leading position in the video surveillance market, the result will mark the future of security systems.

Sebastian Herrera, chief executive officer of Pyronix, said: "Hikvision and Pyronix combined know-how will bring new advancements and innovative products to the market, converging two security technologies in video surveillance and intrusion detection."

In addition to recently taking a further 18,000 sq ft of space at Hellaby. A 14,500 sq ft extension of existing premises is also being realised to meet future demands. More of the high end manufacturing has been brought back from China.

Pyronix website
Hikvision website

Images: Pyronix

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