2019 has been a year of many awards wins and shortlistings for MNB. At the Lloyds Bank National Business Awards, the company was also named as a finalist in the Exporter of the Year category.
Earlier this year, MNB was named Insider UK Manufacturers of the Year (Under £25 million). Directors, Luke Benton and Elliot Benton, were also shortlisted for Institute of Director Awards - Director of the Year Family Business, and Director of the Year International Business respectively.
MNB Precision is a third-generation family-owned business, with third generation owners Luke and Elliot taking over the company in 2012. At nearly four decades old, MNB has continued to flourish by bringing all operations under one roof, adopting a servitised business model and acquiring local engineering company i8.
At the factory in Coventry, MNB currently employs 103 members of staff and has more than 40 customers based around the world. The company specialises in world-class CNC precision engineering and provides its services predominantly to the oil and gas industry.
Luke Benton, managing director of MNB Precision said “To win another award this year is truly astounding, and we are incredibly grateful. We are constantly striving for innovation and growth, and it is motivating to be recognised nationally yet again, especially at such as well-known and prestigious awards ceremony.”
Following a new servitised business model, turnover is rapidly growing at MNB. From £3.7 million turnover in 2017, the company is on track for the five-year target of £20 million turnover by 2020. The business will then focus on the next target of £50 million turnover by 2025.
MNB Precision www.mnbprecision.com
