Coventry-based MNB Precision Engineering has won the prestigious accolade of Manufacturer of the Year (under £25m turnover) at the recent Insider Made in the UK Awards held at Coventry’s Ricoh Arena.
MNB’s award follows hot on the heels of its regional success last month as Midlands Manufacturer of the Year, with the company progressing to beat off stiff competition from nine other regional winners to secure the national title.
Founded in 1980, MNB is a third-generation family-owned business, offering precision engineering solutions to the oil and gas and rail and automotive sectors.
In recent times, the company has implemented a new ‘servitized’ business model that has seen its turnover treble to £10.5 million in the space of just two years, set against the backdrop of challenging market conditions. Acknowledging this success, the national judges praised MNB’s “amazing growth and ability to steer a steady course through difficult times.”
Managing director, Luke Benton, who runs the business together with his brother, Elliot, said: “Precision engineering is in our blood and Elliot and I have been determined to make a success of the business, steering it towards a business model that reflects the needs of today’s modern industries. We were thrilled with our regional award, but to go one better and win the national award is an amazing triumph.”
With turnover forecast to hit £18 million next year, MNB Precision is set to continue its growth, providing services for over 40 customers, many of which are OEMs and Tier 1 companies.
In the last year alone, the company has invested £750,000 in new CNC machines to boost productivity, with a further £500,000 investment expected over the coming months.
MNB Precision www.mnbprecision.com