Product category:
Machinery and Production Equipment
News Release from: PMD (UK)
Edited by the Engineeringtalk Editorial
Team on 25 February 2002
PMD sells off engineering group
Market challenges and strategic planning have led to the sale of PMD Engineering, Coventry to Norman Hay to allow the parent company PMD Group to focus on boosting its key product groups.
Market challenges and strategic planning have led to the sale of PMD Engineering, Coventry to Norman Hay to allow the parent company PMD Group to focus on boosting its key product groups As part of a realignment of the core activities within the group, PMD has announced the sale at a time when there are moves towards greater consolidation within the surface engineering industry
This article was originally published on Engineeringtalk on 12 May 2003 at 8.00am (UK)
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A total of five employees are affected.
They will be moving to Plasticraft at Cannock, taking with them a long service record with PMD and a range of important skills.
Says PMD Group managing director, Mark Naylor: "The plant division has been an integral part of our business for many years and, of course, we are sad to lose our engineering team but I believe that through the Norman Hay Group they will have greater opportunities to utilise their skills more fully.
Our future strategy is to focus on applying and supplying surface coatings.
We have a huge knowledge base in this sector which we will continue to develop".
PMD Engineering started in the early 1960s and quickly earned a reputation for its expertise in the design and manufacturing of high quality manual and automatic surface treatment equipment for the electronics industry.
As this sector of the UK electronics market contracted in the 1990s, the division switched its emphasis to producing more metal finishing process plant especially for aerospace applications.
The move to Norman Hay plc takes effect immediately.
The arrival of the PMD Engineering team has been warmly welcomed by chief executive Vic Bellanti and Plasticraft's managing director Peter Gummer who stressed the importance of building on PMD's experience and reputation, particularly in the electronics field and in major overseas contracts.
The remaining divisions within the PMD Group - Precious Metal Depositors, PMD Chemicals, Metallic Protectives and Metallic Protectives Plating - are unaffected by the move.
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