In our August 2009 newsletter we featured engineering firm and UHY Haines Norton client Teknatool International® Limited.
The company manufactures high end consumer products for the home woodworker/DIY workshop including machines, electronic controllers, motors and supporting accessory products.
In 2009 we reported that the company was continuing to prosper despite the tough economic conditions at the time brought on by the global financial crisis and recession.
Two years on and we are happy to report that the company continues to thrive to the point where it has recently established a joint venture (JV) in China with the prominent high technology production systems designer and manufacturer and listed public company Scott Technology Limited (Scott).
The JV with Scott Technology Limited will be responsible for manufacturing and promoting Teknatool’s® Novatm range of lathes and chucks as well as its smart energy efficient DVRtm motors.
Teknatool® CEO Peter Baker commented that “Scott’s investment in Teknatool’s Machinery Manufacturing Company in China and the resulting JV will allow a more effective response to growing market demand and opportunities presented by key Asian and global markets, including China”.
Teknatool® is currently on target to increase this year’s sales to historical record levels on an increased investment in marketing and operations.
UHY Haines Norton congratulates Roger, Brian and Margaret and the rest of the Teknatool® team on the JV with Scott Technology Limited and we look forward to reporting on the company’s future successes.
Has your business recently received or been nominated for an award or have you been successful in growing your business if so let us know we would love to spread the word about your success.