Partner Article

Propeller poised for take-off

New technologies developed by a County Durham procurement specialist are set to help turn its expansion plans into reality.

Propeller Holdings is aiming to almost double its workforce and increase its annual turnover to around £15m over the next three years by launching a range of inventory control systems for large manufacturing organisations.

With manufacturing names such as TRW, NSK Steering Systems, Rayovac and International Automotive Components already on its client list, Propeller is now aiming to secure new deals with customers across the UK.

Its Pro-pod system uses radio frequency identification technology to track and trace the movement of inventory products, and has already been successfully installed in a number of different industrial locations.

Managing director Carl Brookes says: “The way in which large manufacturing companies manage their inventory has a very clear impact on both its efficiency with which it operates and the overall profits that can be secured.

“Our aim is to take the company’s annual turnover up to £15m within the next three years, and to increase the workforce from 20 to 38 over the same period – they are ambitious targets, but we believe we have the technologies and market expertise we need to achieve them on schedule.”

The company is implementing its development plans with the help of a six-figure investment from NEL Fund Managers Ltd.

Nick Edgar, investment executive at NEL Fund Managers, says: “The Propeller management team has demonstrated clear understanding of both its customers’ needs and the technologies required to address them, and their plans for future development presented a very attractive investment opportunity for us.”

For more information about NEL’s investment criteria, visit www.nel.co.uk

This was posted in Bdaily's Members' News section by Ruth Mitchell .