Product category:
Windows - uPVC
News Release from: VEKA
Edited by the Buildingtalk Editorial
Team on 23 May 2008
Friends united as VEKA fabricators merge
Two highly successful long-time VEKA fabricators, Paramount Window Systems and Grosvenor Windows are merging.
A great deal of synergy has already been demonstrated between the companies which regularly collaborate on sales and manufacturing projects Paramount's Eddie McGrath and Grosvenor's Pete Mills have been firm friends for many years which also bodes well for a formalization of the relationship between the two companies, which geographically are less than 10 miles apart
This article was originally published on Buildingtalk on 13 Sep 2007 at 8.00am (UK)
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The companies operate in similar markets and yet have found their presence to be complementary rather than competitive.
Despite moving into a new factory in 2001 Paramount's sales have grown rapidly to the point where the company has needed to buy in large numbers of frames, many of which have been produced by Grosvenor, which itself moved to new premises in 2002, with a capacity of more than 1,000 frames per week on a single shift.
Paramount has moved increasingly towards retail markets, adding Fitrite decking, specialist conservatories and Primalawn synthetic lawns to its portfolio; Grosvenor in the meantime has continued to focus on trade sales, fiercely defending quality and margins to ensure the company remained profitable even as the market became more competitive.
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Under the new structure Eddie McGrath and Pete Mills will become joint managing directors with an equal shareholding with operations moving to Grosvenor's Bolton premises.
Combined sales of the two companies are expected to exceed GBP10 million, with a workforce of more than 100 employees.
"Pete and I have known each other now for many years and have become close friends," commented Eddie.
"But whilst we have both enjoyed considerable success in our own right we have to look to the future and, through a formal merger between our companies we will become an even greater force in the UK retail and trade markets for home improvements." Pete Mills believes it is the way forward for many similar companies: "Paramount and Grosvenor have enjoyed a growing cooperation for some time and it is now obvious that we can achieve so much more together".
"The market has become a lot tougher and we believe that this is the way forward for our companies and I believe others would do well to think about such a move".
"The new company offers some excellent benefits in respect of volume, expertise, staff and market coverage." As both companies are VEKA fabricators and members of Network Veka assimilation between the two is expected to be smooth and with minimal disruption to supplies and routines.
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