Precision Refrigeration is pleased to announce it is nearing completion of its £250k factory investment programme. The company previously announced that it would be investing in its production facilities to prepare for future growth.
Over the last ten years, sales have increased by 25% year on year. With the current demand in the marketplace for Precision products, the company sees its future going from strength to strength. The new investment work means that the company is able to double the capacity in its factory, and speed up the rate of production. This will help the business to create new jobs for the area, as well as benefitting our customers with shorter lead times.
As part of the preparation work, Precision investigated its options with the local council to support them through this funding, so that they can continue their success to benefit the local community.
“Precision has had its factory investment programme made easier, by the local council supporting the company through a grant from New Anglia” says Nick Williams, Managing Director at Precision.
“The grant of £34k has gone towards construction work, tooling, racking, enhanced quality testing equipment and general infrastructure improvements within the factory. The stores area has been totally re-designed to help reduce the building time of our products. The new layout means, that the workers will take less time to get parts from the stores area to where they are needed on the production lines. We believe the average manufacturing time will be reduced by about 5%.”
We have reorganised the flow of materials within the factory, making the most out of the space we have. The components are stored more closely to the lines, and we will continue to improve the way we work as a team. This all helps the company to speed up production, and increase the overall output of the factory.
“This business expansion has been supported by New Anglia Local Enterprise Partnership, through the Growing Business Fund” says Amanda Allum, from the New Anglia Local Enterprise Partnership for Norfolk and Suffolk. Precision went through an application process in order to secure this funding, and based on the information provided, were awarded the funding to support the company through this exciting time of expansion.
Precision is an independent manufacturer and key player in the professional refrigeration market, supplying a variety of foodservice establishments, including: restaurants, hotels, bars, fast food chains and production kitchens. Its head office is based in Thetford, Norfolk.
Further information on the New Anglia Enterprise Partnership & Growth Hub can be found at: www.newangliagrowthhub.co.uk