Following a successful managment buyout, Midland Industrial Glass in Smethwick, central England, is expanding its premises and moving into new markets.
The company, which uses CNC machines to shape a…
Following a successful managment buyout, Midland Industrial Glass in Smethwick, central England, is expanding its premises and moving into new markets. The company, which uses CNC machines to shape and cut glass for a range of products including furniture and television display units, aims to double its turnover and increase the value added to its products. In addition to its traditional products, it is hoping to enter the shop fitting market and has already provided glass works for new bars at Gatwick and Robin Hood (Doncaster) airports. The firm, which employs 50 people, aims to raise turnover from GBP 4 million to GBP 8 million and beat off the challenge from overseas imports as it adds more processes to the glass it produces. The firm was bought earlier in July 2005 by three of its managers after the retirement of original owner Michael Joseph. New owners Alan Taylor, Glenn Bicknell and Tony Gardner had all been involved with the company at a senior level for a number of years. Having moved into new purpose-built premises in 2004, the company sought investment from Birmingham venture capital specialist Midven to assist an expansion programme. Midven committed GBP 250,000 from the Advantage Growth Fund and with additional investment of GBP 600,000, Midland Industrial Glass has not only maintained production, but grown within the new 4,650 sq m facility. Components manufactured by Midland Industrial Glass are eventually included in the products of companies such as Sony, JVC and Toshiba. Mr Bicknell said: “Traditionally, we were a high volume manufacturer, but we have tried to diversify. We have moved from one piece of glass costing around GBP 1, to pieces which now cost around GBP 10 to GBP 15 and are much bigger”. “We are also looking to do more design work and become more technical. We have to add value if we are to compete with China which is making thousands of glass work tops for example and selling them cheap”. “Hopefully we can double our turnover. We have got the space to add more machines and take on extra shifts and workers.”