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MNB Precision Engineering triples turnover

Posted on 26 Apr 2019 and read 1796 times
MNB Precision Engineering triples turnover Coventry-based MNB Precision Engineering has seen its turnover triple to £10.5 million in just two years. The family-owned business has been providing precision machining and engineering services for almost 40 years and has earned a reputation for providing service-led manufacturing solutions to a range of sectors, including oil and gas, medical, nuclear, defence and automotive. It attributes its success to meeting the changing needs of its customers.

MNB (www.mnbprecision.com) began life in 1980, when the current directors’ grandfather started machining parts at the back of his garage. Since then, the business has survived an economic crash, a global recession and a major downturn in the oil and gas sector.

While many competitors fell by the wayside, it bucked the trend by responding to shifting market trends and providing innovative solutions to the problems confronting its customers.

Since taking the reins of the business in 2012, brothers Luke and Elliot Benton have helped MNB to come back from the brink through a business strategy that has embraced servitisation and a diversification of its offering. T

his put it in a strong position to take advantage of the recent upturn in the oil and gas sector, which has resulted in its workforce increasing from 30 to 101. With an order book forecast to hit £18 million next year, MNB is set to go from strength to strength.

Managing director Luke Benton said: “It has been a hell of a journey over the last few years, but precision engineering is in our blood, and Elliot and I have been determined to make a success of it.

"Our focus has been on putting customers at the heart of everything we do, understanding their issues and adapting to provide innovative solutions.

"We’re not just a company that cuts metal but a partner in providing precision-engineered parts and services, and that’s what’s given us our competitive edge.”