Bigger, better, stronger

The business future of Coventry Toolholder and CTL Centreline has been secured through a bold move by the company's management team.

Following the announcement in April, by one of Coventry Toolholder's major European customers of a near total suspension of a key supply contracts due to contraction in the automotive sector, the Coventry Engineering Group's management were forced to close its doors on 25th June 2009.

Undaunted by the setback and confident in the underlying strategic growth plan developed in the 2003 MBO, the Group's management team, led by managing director, Rob Gordon, raised new finance, both personal and corporate, and succeeded in reacquiring both businesses, including the right to use existing trade names, from the administrators on 9th July 2009, saving two thirds of the employees in the process.

Reorganised and now relocated to modern, better equipped premises close to its original location, and retaining virtually all of its 3D CAD/CAM design and 5-axis manufacturing capabilities, the British owned and managed Coventry Engineering Group reports that it is very much open for business and offering unbroken service and warranty support for all products in the field.

Building on the reputation of providing high quality standard and bespoke tooling solutions offered by the Toolholder and Centreline operations, and with new products and services coming online in the year ahead, the Group is expecting to be well placed to react to the needs of its customers in the upturn now beginning to emerge in world markets.

www.coveng.co.uk  

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