A MANUFACTURER is set for new markets and a new home in 2012 as it aims to enlarge an already bulging order book.
Gateshead-based Fendor makes specialist glazing and blast resistant glazing solutions in both aluminium and steel, and has an industry-leading reputation for technical excellence.
The company already has orders worth more than £2m on its books for the first quarter of 2012, and is aiming to increase its annual turnover by almost 50% by the end of the year, from £6.4m to around £9m.
New jobs are being created as new contracts are secured, and Fendor has already taken on additional temporary premises in Gateshead to keep up with customer demand, with a view to moving into a bigger permanent new home in the area during the next year.
To help fund its continuing expansion, Fendor has renewed its relationship with regional fund management firm NEL Fund Managers and secured a new £400,000 investment from the Finance for Business North East Growth Fund that NEL administers.
Fendor received a £400,000 investment from NEL in 2006, to help support the management buy-out of the business, which was led by current managing director Chris Duffy, and pay for the installation of new equipment.
He said: “Our business model is evolving all the time, with new opportunities constantly opening up for us in different sectors and locations, but what remains central to our success is the quality of the products we provide and the innovations that we’re bringing to the market.
“Investing heavily in research and development work and having our products tested at the world’s leading facilities gives us the credibility that we need to build our presence in highly-regulated areas, such as the petrochemical industry and national infrastructure project contracts.
“The strategic investments we’re making in new products and services are designed to help us maintain the specialist expertise that is crucial to the competitive advantage we enjoy in our key market sectors, and we have a range of innovations in development that will reinforce our success in domestic and overseas markets.
“Our order book for the first quarter looks extremely healthy, and we have the resources in place to build on this early momentum and translate it into our best ever year.”
Originally set up in 1982, Fendor has worked on many prestigious buildings including King’s Cross station and recently completed the refurbishment of Gateshead Stadium near to its Felling factory.
Fendor invested more than £200,000 in research and development during 2011, including undertaking tests at the world’s leading blast testing facility in Texas in order to establish and reinforce the product credibility required to work in highly-regulated sectors.