Tuesday, August 01, 2006
Acquisition swims against the tide
Pace Components has acquired the Electronics Division of CTP Wipac.
One of the interesting things about today's UK manufacturing scene is that, while it appears to be shrinking, there will always be some intrepid organisations who are prepared to swim against the tide and look towards acquisition as means of securing their future stability and, together with that, an increase in their market penetration. Pace Components is one such organisation and, as a part of its overall expansion plan, the company recently acquired the Electronics Division of CTP Wipac, a well-established engineering unit situated close to Pace's Buckingham offices and ideally placed to assist development plans. Initially, Pace will operate the new division from within its current premises, but the idea is to relocate the entire operation (incorporating Pace Components and its supply and distribution arm Power Magnetics) at a new factory as soon as is practical.
All the CTP Wipac key personnel have been taken on to the Pace payroll, and their expertise, together with machinery and tooling, will assist greatly in enhancing the manufacturing and service aspects of the Pace operation.
Adrian Sturgess, Managing Director of the Pace Group, is clearly delighted by the acquisition.
'In these times of fierce competition', he said, 'much of it from the Far East, we need to stay ahead, and I see this being achieved by constantly increasing our range of capabilities, adding to the number of skilled personnel, and looking forward to modest expansion'.
'That way', Sturgess continued, 'we will be in a secure market position, ready to meet tomorrow's demands'.
One of the interesting things about today's UK manufacturing scene is that, while it appears to be shrinking, there will always be some intrepid organisations who are prepared to swim against the tide and look towards acquisition as means of securing their future stability and, together with that, an increase in their market penetration. Pace Components is one such organisation and, as a part of its overall expansion plan, the company recently acquired the Electronics Division of CTP Wipac, a well-established engineering unit situated close to Pace's Buckingham offices and ideally placed to assist development plans. Initially, Pace will operate the new division from within its current premises, but the idea is to relocate the entire operation (incorporating Pace Components and its supply and distribution arm Power Magnetics) at a new factory as soon as is practical.
All the CTP Wipac key personnel have been taken on to the Pace payroll, and their expertise, together with machinery and tooling, will assist greatly in enhancing the manufacturing and service aspects of the Pace operation.
Adrian Sturgess, Managing Director of the Pace Group, is clearly delighted by the acquisition.
'In these times of fierce competition', he said, 'much of it from the Far East, we need to stay ahead, and I see this being achieved by constantly increasing our range of capabilities, adding to the number of skilled personnel, and looking forward to modest expansion'.
'That way', Sturgess continued, 'we will be in a secure market position, ready to meet tomorrow's demands'.
# posted by Swathi @ 12:35 AM 
