Volex is engaged in the manufacture and assembly of essential components for the telecommunications, datacomms, industrial, medical, consumer appliance and consumer electronics sectors. Its major global customers include Ericsson, Phillips, Dell, Apple, HP, Sony, Alcatel Lucent, Panasonic, Samsung, Canon, Huawei, Epson, Toshiba, Qualcomm, Tata etc. While the product range has historically been relatively low technology the company has demonstrated significant success in increasing its value-add by being "designed in" at the product concept and development stage of its customer's product lifecycles and increasing the proprietary content of its own products.
This is a long established business with operations across the Americas, Europe and Asia. Group wide the business employs almost 10,000 people and has organisational hubs in the US, Mexico, Brazil, Poland, Turkey, India, Singapore, Indonesia, Vietnam, Japan, Thailand, Malaysia, the Philippines and mainland China. The company generates around £300m revenue and earlier this decade was a FTSE 250 company. Whilst it still enjoys a full listing on the main market of the London Stock Exchange, in recent years the company has seen a significant decline in its share price and market capitalisation as a result of poor trading performance and high levels of indebtedness.
Having already improved and stabilised the trading performance and normalised its banking relationships the company is now entering a period of substantial transformation and profitable growth. This includes a global restructuring, renewed focus on more profitable aspects of its business, new product introductions, expansion into new markets and sectors and substantial investment in its design, engineering, product management and sales capabilities. Despite the currently depressed global economy the company continues to grow, especially within India and China which are expected to double in size over the next two to three years.
Within the last year the company has attracted a new chairman and several new non-executive directors as well as an entirely new executive team comprising a new CEO, CFO, Sales Director and Operations Director. The group is now managed by an experienced, highly accomplished and highly motivated team and is keen to attract equally high calibre individuals to support its ambitious plans.
In addition to the above locations the group has offices in Warrington and in Castlebar, Ireland. In order to fully exploit its potential the group is establishing a new office in London which will comprise the executive board and a range of finance, human resources, marketing & sales and operations staff.