Preston-based engineering firm PPSI Manufacturing targets nuclear sector with £865k funding
A Lancashire engineering company has revealed ambitious expansion plans after naming
new leadership and securing growth funding from Lloyds Banking Group.
Printing Press Services International Limited, which will now trade as PPSI Manufacturing
(PPSI), of Sellers Street Works, Preston, celebrates its 50 th anniversary this year.
The business was founded in 1966 and later claimed to be UK’s largest Newspaper Printing
Press manufacturer, operating at an international level.
Now Chairman David McManamon is the latest member of the family to lead the business,
and Craig Hester has been named as Managing Director, having served as operations
manager for six years.
With the support of a funding package worth a total of £865,000 from Lloyds Bank, PPSI
now plans to continue its diversification strategy, which has seen it expand into new sectors
after a decline in work building and maintaining Newspaper Printing Presses linked to a
downturn in newspaper sales.
This has also prompted the firm to rebrand as PPSI Manufacturing.
Today PPSI works with a range of clients, from SMEs to blue chip companies in sectors
including automotive, oil and gas, nuclear, defence, construction and robotics.
The company’s 80,000 sq ft workshop includes modern computer numerical control
machinery and PPSI has the ability to carry out anything from simple assembly, to large
heavy engineering projects.
New Managing Director Craig said: "Having worked in the industry for nearly 30 years and
with PPSI for the last six, as production manager, I was delighted to be offered the role of
MD of the business to work alongside David as chairman.
“It’s no secret that the global newspaper sector has suffered a downturn in recent years,
however, further to our restructure and refinance, PPSI is now well placed to become a
leading specialist engineering and manufacturing company.
“Since the restructure, PPSI has already secured new major contracts in new markets,
making this an exciting opportunity moving forward.” PPSI will also be launching a dedicated
new business ‘PPSI Nuclear’ in 2017 bringing on board a number of experienced executives
from the industry.
Advisor Johnny Abraham, of Leeds-based J9 Advisory, has been a driving force behind the
firm’s restructuring and instrumental in securing a refinancing of the business.
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He said: “The industry has seen a high number of casualties in recent times so it is very
rewarding to have worked closely with the PPSI team to achieve the new funding and see
the uplift in sales activity since the EU Referendum result. These are exciting times for the
Charlotte Jackson, Regional Manager, Lloyds Bank Commercial Banking, said: “It’s great to
see a long-established engineering business like PPSI diversifying and creating new growth
“The business has an excellent top team in place and is now well-placed to win new
business across a variety of sectors.”