A Teesside manufacturer aims to double its turnover within two years after opening the doors to a new base following a £750,000 investment.
Cotswold Manufacturing Ltd, based in Thornaby, has taken on 14 new employees – a rise of 36% in the workforce – after developing its own door manufacturing centre on the Teesside Industrial Estate, and more job will follow next year.
Established eight years ago, the 52-strong business supplies doorsets, doorkits and internal glazed screens for the commercial, residential, leisure and education sectors of the construction industry.
The team moved into the centre three years ago but rapid growth has seen it expand into a next door factory, increasing its floorspace by 29,000sqft to 82,000sqft.
The manufacturing centre means the business can now produce its sought after timber doorsets and screens on site.
Sales of the company’s doorsets for October were up by £100,000 year-on-year, putting the firm on target to see last year’s £5m turnover grow to £8m this year with a forecast of £10m the following year.
The move came after Ken Napper, the firm’s director, identified an opportunity for the business to manufacture its own doors instead of buying them in.
Accountants and business advisers, Clive Owen & Co in Darlington, helped Napper progress the idea and the company, which advises a vast amount of the region’s manufacturers on strategic issues, responded with a detailed financial forecast to support the project.
Napper said: “I’m very excited about our recent developments. Our business is going from strength to strength now and we’ll be definitely taking on more staff next year because of the way business has picked up.
Being able to make the whole product under one roof has given us greater control in many aspects of the business. The move has reshaped us and strengthened our plans for continued development.
“Clive Owen & Co has been with us through all of our progress and their expertise has been crucial. In particular, getting the forecasts ready for the manufacturing centre so promptly and thoroughly has undoubtedly made a difference to the outcome of the project.”
John Davison, associate director of business planning at Clive Owen & Co LLP said: “We’ve enjoyed working with Ken and the team at Cotswold on this project. To create a new manufacturing centre was certainly a bold move but we knew Ken and his team would make it successful.
“We wanted to ensure we helped get all the figures in place and prepared a clear cash flow analysis so that Ken could ensure he had financial support to help him move forward.
“It’s great to now see the results of those efforts.”