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Ulster Bank backs £300,000 AB Pneumatics expansion
Moira-based AB Pneumatics has completed a £300k investment in the purchase and fitout of additional premises to accelerate growth in its innovative range of Donut springs.
The six-figure investment, supported by Ulster Bank, has enabled the company to double its floor space to 10,000 sq. ft. to accommodate increased production and to upgrade its office facilities.
Its Donut springs are used for vibration isolation in many industries and are a critical component in the manufacturing of plant and other equipment for the materials handling industry.
Established in 1983 by former Goodyear engineers, the business originally designed and manufactured a range of premium air suspension products, including seat air springs and air spring sleeves for the automotive industry in England.
In 2010, it was acquired by its current management team of Peter Blair and Jonny Boomer.
Under their strategic direction, AB Pneumatics has significantly diversified its product range and now designs and manufactures 25 variants of sleeve as well as its flagship Donut spring and other rubber products.
Over the past decade, headcount at the business has increased six-fold to the 18-strong team it employs today.
Managing director Peter Blair says the new facilities will allow the business to increase production of its Donut spring to meeting growing international demand for the product.
“Our new premises will help to streamline the manufacturing process and boost productivity as we seek to grow our sales of the Donut spring range. We’re experiencing significant demand for the product, particularly within the extractive and materials handing industries which continued to operate throughout lockdown.”
Commenting on the support of Ulster Bank, Peter adds, “Ulster Bank has been instrumental partner throughout the process. Its backing has enabled us to invest in the facilities that will allow us to grow and scale the business in both domestic and international markets.”
Paul Reid, Business Development Manager at Ulster Bank, says the new premises offer AB Pneumatics immediate and longer-term benefits.
“We’re very pleased to have been able to support Peter and Jonny in recent months to complete the acquisition of their new premises. In recent years, the management duo has diversified their product portfolio, established important strategic partnerships, and broken into new and emerging markets. AB Pneumatics now has the facilities it needs to make its current operations more efficient as well as the capacity to accommodate future growth.”
AB Pneumatics exports to the US, Australia, Spain, Austria, Italy, India, Germany, Russia, UAE, Cyprus and other countries through a dedicated distributor network, including the Denver Colorado-based AB Americas.
In 2019, AB Pneumatics entered into a partnership with Dunlop Systems & Components as it aims to grow its sales by £1.5 million. As part of the relationship, AB Pneumatics benefits from Dunlop’s global network, state-of-the-art testing facilities, and expert engineers.
In 2018, it also acquired Lisburn-based Plastics 2000, one of its longstanding suppliers of plastic components. During this time there has been major investments in new injection moulding machinery and engineering expertise at the company. As a result, in the past year its sales have increased by 50% as it works closely with local companies re-shoring their supply chain.