Denroy Plastics creates 10 new jobs with £1m investment
Co Down hairbrush to aerospace components manufacturer Denroy Plastics is adding 10 jobs as it invests over £1 million in IT systems and machinery. The company said the spend was part of a £3.5m investment for its growth.
Denroy - which sells Denman hairbrushes, as well as making components for the aerospace industry - said it had hired 12 new people in 2016.
And it would take on another 10 this year, bringing its workforce to 212.
Group financial director Kevin McNamee said: "Having experienced significant growth, particularly in the aerospace market, Denroy undertook a review of our existing operations and concluded that the increased production volumes we have been experiencing, alongside a more complex operating environment, required superior capabilities."
He said the company's spend on a new cloud IT system would enhance operations in its main markets and improve quality control.
And its investment in new machines "will enhance the speed with which we are able to manufacture products for our clients".
Its investment comes as British manufacturers start to feel the effects of rising prices.
The UK's small and medium-sized manufacturers saw new orders grow at the fastest pace in two years in the three months to January. But there are stark signs of price pressures gathering steam, according to the CBI SME Trends Survey today.
And the the Markit/CIPS UK Manufacturing PMI yesterday said average purchase prices jumped at the steepest rate for 25 years during January.
Fuel, oil, plastics and steel costs and the post-Brexit slump in sterling all weighed on the industry.
Stephen Kelly, chief executive of Manufacturing NI, said the findings echo the experience of members in the province.
"There's been a very sharp rise in input costs which has led to problems, although UK consumers and customers have to this point been insulated from these costs," he said.
"Many manufacturers have been reluctant or unable to pass on these input cost rises, resulting in manufacturers themselves taking the hit in margins and investments.
"However, contracts are now ending and we fully expect that there will be a sharp rise in prices for UK consumers in the coming months."