Flowtech-winner at 2016 Regional Business Awards

RNS Number : 8176C

Flowtech Fluidpower PLC

30 June 2016

 

FLOWTECH FLUIDPOWER PLC ("Flowtech" or "Company") Group recognised in the 2016 Regional Business Awards

London, Thursday, 30 June 2016 Flowtech Fluidpower plc (AiM: symbol FLO): Lancashire-based specialist technical fluid power products supplier Flowtech Fluidpower plc was delighted to be recognised in the regional business awards event which was supported by executive sponsors DLA Piper, KPMG and Lloyds Bank.

The Company successfully pipped Liverpool John Lennon Airport and Bullens Healthcare to the award for 2016 Business of the Year (MSIF 51-250 employees) and also became the primary runner-up in the award for Manufacturer of the Year (Lloyds Bank).  The Echo RBA event was attended by over 500 representatives from the North West's local pool of business talent.  Presenters for the evening included TV reporter Ranvir Singh and sales coach and keynote speaker Geoff Burch who revealed the winners for the 12 categories.

CEO for Flowtech Fluidpower plc, Sean Fennon said,

"As a group we are absolutely delighted to win the coveted top spot and also to be recognised strongly in the manufacturing category.  Flowtechnology UK, the flagship company was established over 30 years ago as a family business and, even today as the Company grows we still harness the same family culture and values in promoting an open-working environment.  This recognition by our peers and the sponsors is therefore testament to the teams' hard work and commitment which provides the solid foundation for our accomplishments to date and into the future."

"As a business, we, [Flowtech Group] aspire to deliver profitable growth while maintaining consistent high service levels to our diverse customer base.  We have a dedicated and hardworking workforce which combined with a solid technically based and resilient business model helps us to underpin our ability to deliver strong cash generation and profitable returns for all stakeholders."

Since the AiM Admission in 2014, Flowtech Fluidpower Group has:

Ø expanded its portfolio through the launch of over 6,300 new products and broadened its product categories;

Ø completed four important acquisitions: Albroco, Nelson, Indequip and Hydravalve;

Ø established three clearly-focussed divisions: Distribution, Power Motion Control and Process; and

Ø implemented strategic structural refinements and new data processing resources which are already delivering improved operating efficiencies across the organisation.

Mr Fennon concluded:

"These are very exciting and fast moving times and we remain optimistic and vigilant about our future. Our trading initiatives linked also to our focused acquisition strategy will continue to create significant opportunity to achieve further organic growth, increased market penetration and positioning through our multi-channel strategy approach.

One defining factor in these achievements and our recent and indeed our future success is the Company team spirit.  These awards not only recognise the exceptional talent we have amongst my colleagues and staff within our business portfolio but also within the North West region as a whole."

Further information about the Group can be found via the corporate website www.flowtechfluidpower.com.

Enquiries:

Flowtech Fluidpower plc Sean Fennon, Chief Executive Officer Tel: [phone]

AiM: symbol: FLO email: [e-mail] website: www.flowtechfluidpower.com

Zeus Capital Limited (Nominated Adviser and Broker) Dominic King, Andrew Jones Tel: [phone]

TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: [phone] or email: [e-mail]

Editors' note: Flowtech Fluidpower plc, founded as Flowtech in 1983, is the UK's leading specialist supplier of technical fluid power products with modern distribution facilities in the UK and Benelux.  It offers an unrivalled range of Original Equipment Manufacturer (OEM) and Exclusive Brand products to over 3,600 distributors and resellers. Its catalogue is recognised as the definitive source for fluid power products, containing approximately 52,000 individual product line and is distributed to more than 85,000 industrial Maintenance, Repair and Overhaul end users (MRO).  Over 80% of product is stocked and if ordered by 10pm, can be delivered next day in the UK, providing 'best in industry' service offering.  The Group's headquarters and main distribution centre is in Skelmersdale, Lancashire with further distribution centres in the Netherlands and China. The Power Motion Control Division (PMC) has operations in Merseyside, Northern Ireland and the Republic of Ireland.

 

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