Press Release: February 02, 2010
Reynolds Technology, which has celebrated victories in the Tour de France during its 100-year history, is breaking into fresh markets in the UK and abroad after developing innovative new skills and products.
Unlike many manufacturers who have been hit hard by the recession, the company is surviving and thriving thanks to managing director Keith Noronhas policy of diversification and staff development.
Based in Shaftmoor Lane, Hall Green, Reynolds traditionally produced butted tubing for cycle frames but now operates in sectors including sports cars, the oil industry and sports wheelchairs. The company is also in consultation with a major supplier of ice skates to competitors at the Vancouver Winter Olympics.
Mr Noronha has led the Reynolds team through a period of transformation and believes the future is bright as he prepares to celebrate the 10th anniversary of the management buyout which led to him taking control of the company.
He said: Over the years, the Reynolds brand has become an integral part of the cycling industry and our products are increasingly setting the standard in this and many other industries including aviation, motorsport, sporting goods and leisure.
Looking ahead, Reynolds Technology is committed to a process of research and innovation across a number of high end performance sectors. We aim to raise standards, to build on our reputation and to exceed the expectations of our customers.
The success of the company is rooted in the dedication and experience of our people. Our specialist knowledge and commitment to employee development is the driving force behind our reputation and success.
In a market place that has experienced dramatic change, we are proud that our products are still expertly manufactured in the UK and Birmingham in particular, continuing over a century's worth of flexibility and passionate customer commitment.
After a flat 2007, sales increased 25% in 2008 and a further 27% in 2009. The company moved from making a loss in 2007 to breakeven in 2008 and profitability in 2009.
Mr Noronha added: Over 80% of our business is now export, with an increasing amount supplied to Taiwan for high-end cycles frames made for US/EU customers. We now have a much larger niche, high-end customer base that has doubled, rather than just a few OEM accounts as we had in the past. This helps to spread the business risk, and provides higher margins.
Using specialist alloys that we have developed in the last two to three years, we are expecting to break into new markets outside the cycle industry which will lead to further growth and diversification.
There is no denying that things have been tough in the past but we have embraced product innovation to improve our growth prospects and we are looking to the future with confidence. We are investing in skills training and lean manufacture techniques and we strongly believe UK manufacturing still makes business sense in our type of market.
For more information please visit www.reynoldstechnology.biz.
Notes to editors:
A passion for high-performance engineering, combined with the knowledge and experience to meet the demands of our customers has given Reynolds Technology the edge
for over 100 years. Based in Birmingham, UK, We use premium grade materials to produce innovative tubing products in aluminium, magnesium, steel and titanium. Our 953 maraging stainless and 853/631 air-hardening steels allow product designers to achieve world-class weight and fatigue performance parameters in their applications. Our specialist ranges of thin wall butted and straight gauge metal tubing set the standard for many types of high performance applications including cycling, motorcycling, sports car components, sports wheelchairs and aviation.
For more information please contact Paul Skipp of Paul Skipp PR and Boom! PR on 07957 457911 or email email@example.com.