Endless targets export sales drive for Crown
Date: 22 May 09
Publisher: Thebusinessdesk.com
LANCASHIRE'S Crown Paints is targeting overseas sales growth as part of a masterplan to revitalise the business by new owner private equity firm Endless.
Endless, which last year bought Darwen-based Crown from Dutch giant Akzo Nobel, says it sees a "major opportunity" in boosting export sales.
Endless managing director Warwick Ley told TheBusinessDesk: "We are making good progress with Crown, despite the obviously challenging market place. Alongside management we have put in a lot of hard work and it's starting to bear fruit.
"In the past, because of the previous ownership structure, Crown has not really had nuch of a focus on international sales - mainly just clearing stock and probably worth £2m to £2.5m out of £180m turnover."
Mr Ley said he was confident in the export opportunity for a number of factors:
"Primarily Crown has a suite of very strong technical products. Secondly it is a British brand and British brands tend to do well in certain markets, particularly the sub-continent.
"The third factor is the weak pound, which makes exporting more attractive."
He said Crown was trading in line with forecasts but was at "an early stage of a three to five year plan."
In line with the export strategy the Crown has appointed Nigel Banks to a new role of commercial manager for export and licensing. His appointment is the latest in a series of management changes.
Liz Hickson has recently been promoted to marketing director, while Mike Polkinghorn, former vice president of operations of Ronseal and Sherwin Williams, has joined as production and logistics director.
Crown Paints chairman Graham Hallworth commented: “Now that we are no longer the UK subsidiary of a Dutch conglomerate there are fantastic opportunities for us to develop this business in a far more entrepreneurial and outward looking way."
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