ALMOST 40 manufacturing jobs in Birmingham have been saved in a deal that will create one of the largest independent metal pressings firms in the region.
John Faulkner and Anna Stevenson, both of Millennium Manufacturing Group
Black Country-based Millennium Assemblies, which was founded last year to look for opportunities to work alongside Millennium Pressed Metal’s established business, has purchased JJ Engineering from the administrators.
The terms of the deal have not been disclosed.
It is now planning to use the additional capacity to embark on a two-year plan to significantly enhance joint sales revenue to £10m.
As part of the move JJ Engineering will be renamed Millennium Assemblies and will sit alongside Millennium Pressed Metal to form the newly named ‘Millennium Manufacturing Group’.
The acquisition has been supported by Crowe Clark Whitehill and the Wilkes Partnership.
Former Cab Automotive managing director John Faulkner will take the helm at the Garretts Green factory in co-ownership with MD of Millennium Pressed Metal, Anna Stevenson.
“JJ Engineering has a great workforce and a long history of supplying quality metal parts. The team shares our commitment to world class manufacturing, innovation and customer service and we are very proud to have created a new platform for the future,” said Faulkner.
“Sister company Millennium Pressed Metal had picked up a number of large contracts, so the ability to further increase our capacity with the purchase of the JJ Engineering plant was too good to turn down. There is also the added benefit of now being able to offer robotic welding, a well-equipped tool room and state-of-the-art metrology lab.
“It has an enviable client base of automotive, domestic goods and construction customers, not to mention a presence in oil and gas…all areas we are looking to gain a greater market share in.”
The deal has seen 39 jobs saved and Faulkner said the firm now had it sights set on further growth – which could mean new jobs being created.
Millennium Manufacturing Group will employ 84 people across the two manufacturing sites and is set to turnover in excess of £7m in the next 12 months.
The two companies offer a single source solution for pressed metal components, machined parts, tube manipulation, wire forms and welded assemblies.
“We now have more than 65 presses (from 25 to 350 tonnes) at our disposal,” said Ms Stevenson.
“The acquisition comes on the back of the most successful twelve months in our 15-year history and just a few months after securing one of our biggest contracts – a £1.3m order to manufacture white goods pressings.”