Diversification into new markets has paid off for a Redditch-based manufacturer that has secured more than £2 million of additional sales. Thermex Ltd (www.thermex.co.uk), which employs 40 people at its factory on the North Moons Moat industrial estate, is heading towards a turnover of £6.5 million in 2017, after winning work to supply new technologies to customers in the marine and off-highway vehicle sectors.

Supported by the Manufacturing Growth Programme, the company has developed high-performance shell and tube heat exchangers; it has also expanded its product range to include air-blast radiators, oil coolers and specialist brazed plate variants.

These developments follow a £1.3 million investment programme that has seen the addition of new ovens, a tube expander and a ‘fin press’, allowing Thermex to continue to diversify with the development of bespoke high-performance coolers for turbo-charged engines used in marine and industrial applications.

Thermex managing director Julian Crossley said: “We have enjoyed significant success in 2017 so far, but that is no accident. It’s something we have planned for in our business strategy, and the recent expansion of our capabilities has given us the platform to launch new products and to take on additional work.

“There has been renewed interest from the marine sector, and this has led to the introduction of new liquid-cooled charge air coolers that offer greater performance and can be produced for specific applications.”