One to Recognise

31-03-2015

Electrical wiring accessory and circuit protection product manufacturer, Contactum, were delighted to be announced by The Sunday Times PA Consulting Inward Investment Track as ‘Ones to Recognise’ in the Business Section of The Sunday Times.

The UK is one of the top locations in the world for investment by overseas-headquartered corporates and attracted $62bn of new investment in 2012, the highest level in Europe. The 45,000 businesses such investment has created employ 3m people, accounting for more than 13% of the country's workforce, and contribute at least 36% of the total turnover in the UK.

To shine a light on this important part of the economy, Oxford-based Fast Track, with its media partner The Sunday Times, created a new league table supplement ranking the 50 overseas-based multinational companies employing the most people in the UK. It also highlighted 20 up-and-coming, medium-sized subsidiaries of foreign companies and significant investment pledges made by foreign corporates across the regions of the UK in the last year, of which Contactum was one of those identified.

When Contactum went into receivership in early 2009, there seemed little hope for a company that had been in the UK since 1936. However, following a takeover of company assets by the Saudi-based Alfanar group, Contactum has ambitions to be the second-biggest company in its field.

“When the company was bought by Alfanar, it was in a state of significant disrepair,” said Managing Director, Neil Clydesdale. “Now we have an owner who is happy to invest in our long term success.”

The company’s new parent manufactures British Standard wiring accessories, load centres, low voltage switchgear, medium voltage switchgear, transformers, package substations, single-core wires, low, medium, and high voltage cables, and various other products. Contactum’s circuit protection products and wiring accessories are in a similar field. “Alfanar saw us as a good fit,” added Mr Clydesdale.

Contactum is still manufacturing in the UK, at Cricklewood, North London, and is growing fast with a 20% uplift in staff last year to over 100, and expects to be employing 125 people by the end of the year with additional shifts added to cope with the increased demand.

Going forward, Neil believes that Contactum’s UK manufacturing base will be a huge asset, thanks to Government changes that are making it more cost-effective to manufacture in Britain, as well as rising costs elsewhere and longer, more complex supply chains.

To find out more about Contactum, visit www.contactum.co.uk.