Engineering company rescuer looks north
1 min read
Vincent Bootes, owner of PG Technology, Mitcham, Surrey has stepped in to rescue part of a car parts manufacturer in Newton Aycliffe, Co Durham that went into administration and secured 125 jobs.
Mr Bootes has purchased the Tolwood part of Vickers Pressings Tolwood Automotive (VPTA). The new business trades as Tolwood Technologies Ltd.
As reported by The Northern Echo, Mr Bootes, who has worked with Tolwood for 15 years as a supplier, plans to expand the company and generate £2 million worth of new business within three months.
“I want to see this business grow. Nissan is an extremely important customer and I want to continue that strong relationship,” said Mr Bootes. “The purchase of the business included a four-acre freehold site in Newton Aycliffe, which will give the company a long, secure future.”
Mr Bootes bought troubled sub-contractor and Optidress grinding wheel dressing system maker PG Technology, Mitcham, Surrey in 2001 from US multi-national Tripoint Holdings and then nearby Toolmasters Technologies, a manufacturer of the Diaform grinding wheel dressing system and invested heavily in the company thereafter (see Machinery, 2 July, 2004, page 25).
Mr Bootes also incorporated his original company BPR Precision Toolmakers within the Mitcham site to create an amalgamated company offering four services: sub-contract machining; precision toolmaking; blade manufacturing technology; and profile dressing technology.
One year ago PG Technology announced a two-year plan to expand its current activities – including its Precision Tooling and Standard Products division (Optidress and Diaform grinding wheel dressing systems) - and to double sub-contracting revenues.
