Penny Hydraulics Ltd
Station Road | Clowne | Chesterfield
Derbyshire | S43 4AB | United Kingdom
Potential job losses, overnight increases in the price of imported goods and a 15% loss in turnover…UK lifting equipment manufacturer Penny Hydraulics are hit hard on day one following the referendum.
The Chesterfield based company was founded in 1978. Following a record year in sales, Penny Hydraulics is set to better this again in 2016 with the end of year turnover set to exceed £8M. The news of a departure from the EU couldn’t come at a worse time for the company as work has just commenced on a £1.5M site development at their premises. The development is set to create 10 new job opportunities within the next 2 years and has been aided by an EU grant.
The company have just been awarded “Family Business of the Year” at the Family Business Awards which took place at the Mayfair Hotel in London on June 2nd 2016 where the judges commented on the companys innovation, investment and support and promotion of the engineering sector in the UK.Read more…
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