Batteries maker set to record first profit
Nov 14 2007 by Chris Knox, The Journal
ACOMPANY that makes batteries and chargers for industry is to achieve its first annual profit since separating from its parent company in the US.
Peterlee-based Alexander Technologies expects to increase its annual turnover from £6.5m to £8.2m by the end of the year, which will represent its first profit since being bought out from its US parent company of the same name in 2004.
Following a period of financial difficulty for the US parent, the firm was bought outright by managing director Tania Cooper and her American business partner Jay Miller with the help of US-based Harris Bank, which provided a £2.4m loan to finance the deal. The parent company has since collapsed but Ms Cooper’s business has a small US arm.
The business has struggled to make a profit over recent years due to substantial company restructuring, which has seen its engineering activities moved overseas to Malaysia as well as significant re-investment back into the business.
The firm, which employs 54 staff, including 32 at Peterlee, 16 in the US and six in Malaysia, plans to increase this number in the new year as well as maintain a 10% annual growth rate going forward.
It also plans to continue an intensive investment programme, which has seen £20,000 spent on product development for every year since the buy-out. Ms Cooper said: “Following the buy-out we had to concentrate on restructuring the business as well as maintaining the brand’s US clients. Now we are ready to concentrate on rolling out our product lines and ensuring that the business remains profitable in the future.”
The company exports 80% of its battery packs and chargers to organisations around the world, including the Californian Highway Patrol, the French police and Tesco.
The business, which has just renewed its lease at the South-West Industrial Estate in Peterlee, also plans to increase its operations in the automotive industry in the new year.
“Wherever mobile battery packs and chargers are needed, we can provide a service. This can be police walkie-talkies, defibrillators, infusion pumps (medical drips), anything”, Ms Cooper said.
Ms Cooper joined Alexander Technologies in 1990 as a temporary account technician before rising up through the ranks to become managing director up until the buy-out.
She is passionate about the export market and chairs the government funded Regional International Trade Office at Durham, which offers a wide range of support services to local businesses intending to increase their international trade.
“The export market is the lifeblood of Alexander Technologies and it is important that local businesses are aware that support is available should they choose to grow there sales in this way.”
