By Liz White, ERJ staff
Colne, UK-UK rubber part maker Pendle Polymer Engineering Ltd has boosted its turnover by about 50 percent through the acquisition of the Xelflex Precision Moulders business from Phoenix Medical Ltd of Chorley, UK.
The deal adds Â£1.5 million (Euro 2.2-million) in turnover to Pendle's current Â£3-million turnover business, said Tony Bielby, commercial director with Colne-based Pendle.
Pendle is buying the Xelflex order book, tooling and some items of plant from Phoenix Medical, but not any premises, Bielby added.
Some staff may be involved in the move, although this has not yet been decided. Bielby said he has already taken on the Xelflex sales manager. Preston-based Phoenix has pledged to offer jobs to any workers who want to stay on, Bielby added.
Xelfex's precision mouldings will complement Pendle's products, which cover seals, mouldings and rubber-to-metal bonded parts for a wide range of sectors, including the truck and automotive sectors, Bielby said.
Pendle's plant at Colne has sufficient room and capacity to include the new business, according to Bielby.
When Phoenix Medical bought Xelflex in mid-2003, the operation had a turnover of Â£3 million and employed 65 people.
Xelflex has seen several changes in recent years. Originally part of Doeflex Industries, it became independent in 1999, after British Vita plc bought the Doeflex business. In 2001, Xelflex bought some of the Leyland & Birmingham Ltd business, before it was itself swallowed by Phoenix Medical.