Fast facts

• South West based electronic resistor manufacture with £3 million turnover
• Acquired by Alun Morgan and Mike Pritchard in 2001
• Focus on growth, efficiency and new markets
• Awarded share of Western Morning News and Plymouth University’s £1 million Regional Growth Fund (PWGF) - part of the GAIN network
• Invested in operational performance and continuous improvement processes, creating new jobs and export opportunities

Background

Originally founded in 1952, Arcol re-located to Truro in 1974 and was acquired by the present owners in 2001. It now has a turnover of £3 million exporting 75% of its volume to more than 70 countries worldwide and supplying some of the world’s largest manufacturers of electrical equipment.

Owners Alun Morgan and Mike Pritchard have spent the last 10 years making strategic investments into fine tuning customer delivery and developing international partner networks; now looking to implement new performance systems and on-site warehouse.

GAIN – the benefits

Having now consolidated to a single site, Arcol’s strategy focuses on future growth particularly in China and India.

Working with business support consultants Oxford Innovation and accountants Bishop Fleming, Arcol submitted a tender to the Western Morning News and Plymouth University’s £1 million Regional Growth Fund (PWGF) - part of the GAIN network, to fund its strategy for growth and jobs.

Arcol was awarded £50,000 of match funding for a £100,000 project in November 2011. Technical Director Alun Morgan believes this will enable Arcol to compete more effectively in global markets.

“Arcol is looking to increase its turnover to £4million over the next three years and it’s vital that we are able to reduce costs and become more effective and competitive.

“By working with GAIN network members such as the Western Morning News and Plymouth University we can remain innovative, raising the standards and profile of South West manufacturing as well as opening up new markets.”

Recruitment has already started for three new jobs; a graduate electrical engineer through Unlocking Cornish Potential, a mature apprenticeship and warehouse operator.

Results and the future

• £100,000 for operational performance and continuous improvement process
• Investment into new warehouse infrastructure for improved customer delivery
• Assurance for new international clients
• Creation of new jobs
• Strategic growth on target

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