Denroy moulding a brighter future in aerospace with £500k investment
Co Down firm Denroy Plastics has invested £0.5m in equipment and training and appointed three new staff as part of a move to boost its presence in aerospace.
The Denroy group of companies in Bangor provides materials for various sectors and is known for its Denman hairbrushes.
Now its growing aerospace customer base has prompted Denroy Plastics to invest in that part of the business - including buying a new Engel moulding machine.
The precision injection mouldings company also appointed a new business development manager, business development engineer and engineering manager as well as supporting senior staff in working towards post-graduate qualifications.
Denroy Plastics said it's now anticipating "positive results" in 2019 as a result of the investment.
General manager John Irwin said: "Our predictions are based on these forecasts which have proved to be very reliable in the past, as Denroy has seen its growth meet expectations over the last few years and expects to see this trend continue.
"We are delighted to have attracted such high quality new recruits, and equally satisfied to see our senior staff achieving highly useful post-graduate qualifications.
"This is part of our strategy in conjunction with training and recruitment planning to have the right people in the right place at the right time."
In its latest group results for 2016, Denroy Group Holdings Ltd reported turnover of £15.3m - up from £14.2m. Pre-tax profits almost doubled to reach £568,251 from £290,2013 the year before.
A message from the company chairman filed with the accounts said Denroy Plastics had benefited from spreading its business across industry sectors. Sales had increased by 3% to £8.7m.