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Philidas Recommences Manufacturing
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2013-07-12

Philidas Manufacturing Ltd has confirmed to this magazine that it is manufacturing again at the same location in Pontefract, UK.
The statement refers to “a very difficult four months for the Philidas brand, with competition taking advantage of a poorly managed situation”. Purchased from administration at the last minute, Philidas says that, under new ownership but with management continuity in the form of Ken Lord who is now managing director, it is committed to moving the business forward and will return to its roots and concentrate on its core business of industrial, turret and MK5 nuts.
Ken Lord said: “It has been a long and hard 3 months dealing with administrators and machinery purchasers but now the Philidas brand is safe we are excited about distributing the product back into a demanding market.”
He added: “Over the last 4 years the Philidas brand has been involved in a few tough business decisions that had a negative effect on the brand and the product. The new management have taken fresh ideas and has changed the direction Philidas is moving in, reverting to the core business to secure a positive future for the brand.”
Philidas now feels it can move forward in a professional manner after securing full backing from the banks and management funding. Target delivery dates are aimed to be a maximum of four to six weeks from order 4 to 6 weeks for 95% of the products that can be manufactured.
One of Philidas’ major distributors, Francis Kirk (Socket Screws) Ltd, said: “It is fantastic news for the industry and for all involved that the Philidas brand has been saved. It carries a lot of history along with a high quality product that is specified within specific sectors. We are looking forward to working with Philidas and other distributors to develop the brand back to where it should be, as the market leader of all metal locking nuts”.

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news provided by Fastener + Fixing Magazine (www.fastenerandfixing.com) arranged by Fastener World Inc.
2013-07-12
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