MIG jets in with Post award
Jul 24 2007 By John Cranage, Business Staff
A company that is growing strongly after a management buyout was the first monthly winner of this year's Birmingham Post Business Awards.
Midlands Industrial Glass (MIG), based in Downing Street, Smethwick, won the approval of the award's independent judges for its ambitious expansion programme.
The company has added 10 jobs since news of its progress was reported in The Post in early June, bringing the total to 60, and it remains on target to double its turnover from £5 million to £10 million in the next three years, managing director Alan Taylor said yesterday.
He received the award on behalf of MIG at a reception at Birmingham International Airport co-hosted by the airport and award sponsor Flybe.
The long established company - it has one employee coming up to 50 years' service - specialises in the manufacture of bespoke glass components such as shelving and balustrades for shops and pubs.
It moved into what Mr Taylor terms "high end" products after pulling out of the market for low-margin consumer items that are now cheap imports from countries such as China.
Previously part of Kenmore Group, a company based in Scotland, MIG was bought out for an undisclosed amount by Mr Taylor and his team two years ago with the backing of Birmingham venture capital provider Midven.
The ambitious company, in fact, began its expansion three years ago when it moved from outdated premises in central Birmingham to a purpose-built 60,000 sq ft factory in Smethwick.
It has already spent £3 million and will spend another £500,000 on equipment to expand capacity.
The MIG board was recently strengthened by the appointment of M&A expert Lee Noble as non-executive chairman.
The company has invested in a new glass-toughening furnace as well as specialist equipment that enables it to fit sub-assemblies such as brackets to its products.
Components manufactured by MIG are eventually embodied into the products of companies such as Sony, JVC and Toshiba.
The company, which is certified to BSI and ISO9001 standards, is also geared to react to immediate requirements for medium and long runs.
Mr Taylor said MIG was continuing to grow despite upward cost pressures caused by the surge in crude oil prices - a major input cost in the manufacture of glass.
"Last year we saw four 15 per cent rises in the price of glass and four so far this year but we have not put our prices by anything like that amount."
He said of the award: "It is nice to be acknowledged."
Chairman of judges David Smith, managing director of sponsor Churchill Vintners of Birmingham, said of MIG: "I am sure we will be reading much more about them in future.
"A number of our winners have come from MBOs, and it illustrates how freedom and the enthusiasm of the individuals involved have enabled them to go on to great things."
The main sponsors of The Birmingham Post Business Awards are Intercity Mobile Communications and Churchill Vintners in association with Champagne Taittinger.
Flybe and Aston Business School provide further support, along with Biz-tv, part of Aston Media at Aston University, which produces a business video of each monthly winner worth £2,500.
And Warwickshire County Cricket Club is providing a private box for one of their day/night games next season.
