Centronic acquire Global Precision Engineering

Date: 02 Dec 2009

Centronic are pleased to announce the acquisition of Global Precision Engineering Ltd, currently based in Mitcham, Surrey.

 

The deal was completed on November 1, 2009, and was all cash offer for the assets of the business.

The purchase of Global enables Centronic to further strengthen its position as a key supplier of products and services to the oil and gas, nuclear and aerospace industries by taking control of a critical element of the supply chain.

The business will be relocated in December 2009 to a purpose built factory on the Centronic UK headquarters site in Croydon and will trade as Centronic.

The activity will now benefit from being an integral part of the Centronic infrastructure with access to the quality, engineering and purchasing functions of the operation.

It is the intention of Centronic to continue to build on the excellent existing customer base that Global Precision have whilst also supplying over 80 per cent of the Centronic machining demand.

Neil Foreman, Centronic managing director, said: "When we made the decision to invest in a machining capability it was with the clear intention of offering a high end product to our customers and not just satisfying our own internal requirements."

The existing management and staff of Global will be moving to the Centronic King Henry’s Drive site with the business and Martin Tomlin, who will continue to manage the activity, said: "This is an exciting time for all involved
at Global as it will enable us to take our manufacturing and customer service to an even higher level than before."