Sheffield’s Anchor Magnets expands facilities to celebrate 30 years in business

Sheffield-based magnet manufacturer Anchor Magnets and supplier is celebrating 30 years in business by expanding its production and storage facilities to nearly 30,000 sq ft.

Anchor Magnets will begin its fourth decade in business with the acquisition of a new facility next to its current manufacturing base at Bankside Works in Darnall.

The additional 7,000 sq ft facility will be used by the industry-leading manufacturer to house extrusion manufacture and cutting equipment. It will also allow an extra 1,400 sq ft of mezzanine space for stock storage.

Anchor Magnets has seen consistent growth since its start up and further business growth across the business divisions in the last year with a record turnover of £3.1m for the first half of 2014, up 10% on 2013.

A targeted capital investment programme of £250k has expanded machining and infrastructure capacity to streamline sales, manufacturing, purchasing and finance systems.

The company has tripled magnetic sheet and extrusion conversion capacity material in 18 months and doubled laminating facilities in last 12 months.

Warren Turner, managing director at Anchor Magnets, said: “Following the investment in new plant capacity and systems, the next stage of our investment plan is to underpin our growth with the expansion of our site.

“We are the only UK company to provide a bespoke engineering facility for magnet manufacture and when the opportunity to expand our facilities with a unit next door to our current site presented itself we leapt at the chance. Our main priority was to streamline the operations to improve operational efficiencies.

“This not only increases capacity but offers quicker stock and product access through improved warehousing. Our inventory has grown by more than 50 per cent over the past five years.”