MGN Insight – Engineering firm targets £20M Turnover by 2020
By Philip Cunliffe, Business Editor of Insider Media
The boss of a specialist engineering business based in County Durham has outlined his expectation of reaching turnover of £20m by the end of the decade.
Dyer Engineering’s managing director, Graeme Parkins, was speaking to Insider in the launch edition of the new Manufacturing Growth Network.
Since Parkins took over the business in 2013, revenues, production, staff numbers and profits have all increased. Parkins and his team have invested in machinery and staff, and also in changing the culture of the business.
“We did a lot of work to determine what Dyer Engineering was all about, what we wanted to be known for and how we wanted the business to perform,” Parkins told Insider.
“All this work was put under the heading of ‘Smarter Stronger Together’. And these are our core values today.”
The last couple of years have seen Dyer win contracts in the rail sector. It is now a Tier One supplier to Hitachi Rail and is also engaged with three large-scale European manufacturers to the sector.
Although he has a clear ambition to get to £20m turnover by 2020 Parkins said it was not all about new growth.
“We need to continue to look after our customers. It’s no good getting to £20m if we’re not impressing our existing customers.”
The Manufacturing Growth Network also includes the first set of tables which set out the North East’s best performing manufacturing businesses in the previous quarter of 2017 based on Turnover, Productivity, Exports and Apprenticeships.