Top management moves at PTG

PTG’s machine tool operations take in the machine tool brands Jones & Shipman, Holroyd, Binns & Berry and Crawford Swift. Stephen Lord joins as PTG’s CEO, replacing Mark Franckel who is to take up a new appointment outside the group, although he will remain in an advisory role to provide support to PTG on strategy and acquisitions. Dr Tony Bannan, current managing director of PTG’s machine tool operations, is promoted to chief operating officer, and Mark Merryweather joins PTG as chief financial officer to create a new hands-on senior management team. Mr Lord has been brought into the organisation initially to oversee the creation of the new heavy industries-focused J&S Remanufacture operation. He said: “There is strength and synergy about this team and the new management structure. Mark Merryweather, who has already been instrumental in PTG’s turnaround and refinancing, is the natural choice for CFO. Dr Tony Bannan has an exceptional knowledge of the industry and its markets, coupled with a detailed appreciation of the operational, engineering and sales sides of the business. In combination with my own business experience as a CEO successfully developing and exploiting the market potential of well known brand name companies outside of this sphere, we can bring a strength and dynamism to the organisation that is needed to take it forward and secure a successful future in these changing market conditions.” In a stark contrast to the present recessionary market trend, Precision Technologies Group is reporting a marked business increase with high-value sales orders for its component manufacture, capital machines and consultancy businesses. PTG manufacturing, sales expertise, consultancy and technical support services now span the globe with sites in Europe, Central Eastern Europe, India, the USA and Asia. Newly appointed COO Dr Bannan attributes the surge in business interest to a strengthening of the brand focus since acquisition by the Group and the investment in moving the businesses forward. “We are working with many new customers at our production sites across Europe, and I have personally been extremely pleased to hear visitors comment on the security they now feel in the organisation, and in the value they place in market leading innovation, product development and first-class customer service.” Pictured: Left, Dr Tony Bannan; right, Stephen Lord