PRESS RELEASE
Release date: 15th November 2016
MNB Precision Engineering MD's forward thinking leads to top industry award.
Forward thinking by the managing director of a Midlands-based high end precision engineering company has led to him being given a prominent industry award for inspiring leadership.
MNB Precision Engineering's MD Luke Benton has been recognised by The Manufacturer's annual TM 100 2016 report for its significant success in implementing servitization strategies.
The company was an early adopter of servitization. The award acknowledges his role as an ambassador of the benefits to the wider manufacturing community. MNB Precision worked with Aston University's Centre of Research and Practice to develop a way of bringing all its operations under one roof. This included a number of previously outsourced services.
For MNB customers this meant a 78 per cent reduction in lead times with an average cost saving of 10 per cent. The strategy also included developing training opportunities for it staff.
MNB Precision Managing Director Luke Benton said:"This is a fantastic achievement for the whole team at MNB Precision and as a result we are all extremely proud and honoured to have been recognised in this way. Servitization has been a real success story for MNB Precision, helping us to differentiate ourselves from our competitors and adding real value to our offerings for the benefit of our customers.
" The manufacturing sector is changing rapidly and so too is the expectations of consumers. Utilising servitization provides manufacturers with the opportunity to meet these challenges head on. The company is passionate about extolling the benefits servitization can bring to businesses and this recognition from The Manufacturer will allow us to continue our efforts."
The award programme was first established in 2013 by The Manufacturer as a way to provide a much needed platform for the industry to recognise the role models who make a valuable contribution to the manufacturing sector for the benefit of the wider economy. The inspiring leader component of the TM Top 100 2016 report acknowledges businesses which have demonstrated a strong commitment to developing their business through a focus on investing in people, processes and technology over the last 12 months.
MNB Precision MD Luke Benton was invited to deliver a presentation at the awards reception on the subject of servitization in recognition of the company's work in that field. The presentation included ways in which other businesses could see how similar strategies could work for them.
Mr Benton believes servitization will have an increasingly important impact on the manufacturing sector.
He said:"The manufacturing sector is becoming ever more competitive, therefore the need for businesses to differentiate themselves from their competitors is extremely vital. Servitization offers the ability for manufacturers to tailor their products and services to the needs of their customers, allowing for a truly bespoke service, helping manufacturers to compete in an unpredictable landscape."
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About MNB Precision
Established over 35 years ago, MNB Precision is a family run business based in Coventry, which provides manufacturing and precision engineering services to world leading companies across the oil and gas, power generation, rail, aerospace and other manufacturing industries. Specialising in precision engineering, the company's 36,000 ft² factory offers services including CNC milling and turning, Jig Boring, Spark Erosion, Wire Erosion, Grinding and Shot Penning. These in house capabilities are supplemented with a robust and controlled supply chain, enabling the business to offer an efficient turnkey solution to customers globally.
For further information, please contact:
Luke Benton, Managing Director, MNB Precision on Tel: 02476 696950, or Denise Taylor, Bridge PR & Media Services on Tel: 024 7652 0025, or Email: denise@bridgepr.co.uk