Member Article

Francis Kirk Group target £5m turnover from Philidas  

Denton-based Francis Kirk Group is celebrating the third anniversary of its purchase of the market-leading Philidas self-locking nut brand with a growing order book and worldwide opportunities which are driving significant increases in turnover at the firm.

Bought at the end of 2013 Francis Kirk Group invested in the Philidas brand and manufacturing operation to maintain full control of a specialist metal locking nut product that is sold into safety critical areas for a huge range of industrial and domestic applications.

Philidas is now expected to deliver a £5million turnover for the firm this year – a significant increase on last year’s £3 million figure - and consistent with growth since purchase. The brand was worth just £1.5million in 2013.

It has a key part to play in the company’s wider aspirations to take overall company turnover by the end of 2017 from £4.75million to £7million.

Philidas serves automotive, rail, aerospace, earth moving plant equipment, mining, renewable energy and electrical appliances sectors and has The London Underground, Bombardier, JCB, Toyota, Renault and Citroen among some of its end customers.

In the last three years Philidas has been streamlined and rebuilt and as a result, new markets have been opened up in India, Iran, South Korea, Japan, and USA as well as increasing European distribution channels. It is currently looking to formalise trading relationships in Germany, Italy, France, South Africa and Australia.

Working in partnership with The Alipour Company in Tehran, Francis Kirk Group is building on Philidas success by offering a single source fastening and cutting tools solution to manufacturers throughout the region.

Philidas nuts lock on a bolt in any position, designed to create the most convenient and practical fastening method for any industry or domestic application.

Even in high performance environments where vibration may occur, these locking nuts are developed to stay in place. They also help reduce assembly time, use fewer components and are more cost effective than alternative methods.

A stainless steel version of Philidas is now available and will be showcased at the Fastener Fair 2017 in Stuttgart later this month.

The stainless steel range is a natural progression from the innovative company, who have also upgraded manufacturing production this year in line with ISO2320 and ISO898-2 standard requirements from BS4929. The move has provided customers – especially those in the rail sector – with a more comprehensive specification system.

The Philidas range is manufactured in Pune, India, from where Francis Kirk Group produce and distribute to customers worldwide.

Managing Director Thomas Kirk commented: “Philidas is a major success story and spearheads our commitment to providing high quality fastening solutions for a range of industries.

“Our 36-month investment in manufacturing, improving standards and range options on Philidas has put us in a strong position in many world markets and we look forward to another good year of growth.”

This was posted in Bdaily's Members' News section by Sue Souter .