Arrowsmith flies high with £1m revamp
A Coventry-based Formula One components supplier is targeting a £4m turnover figure after investing more than £1m into new headquarters and machinery.
Arrowsmith Engineering is now aiming to increase its turnover from £1.8m to £4m over the next three years.
The company, which supplies precision components for the aerospace industry, Formula One and the energy sector, recently injected £1m into the business to improve its headquarters, increase floor space by a third (to 15,000 sq ft) and invest in new facilities.
Arrowsmith said it had won a string of new orders to produce complex engine and actuation parts for Rolls Royce, Goodrich, Pattonair and Meggit after securing support from the Manufacturing Advisory Service West Midlands (MAS-WM).
Managing director Jason Aldridge said up to ten new jobs could be added to the team of 39 a result of the expansion plans.
He added: "Our growth has been based on establishing more strategic partnerships with our clients that see us work even closer with them to improve quality, on time delivery and offer them added value design.
"This approach has reaped dividends and we now hold approved supplier status with Rolls Royce in Canada, Germany, Singapore and the UK, Goodrich, Bombardier and Eaton. We are also taking this same strategy with the energy firms we currently work with."
