O.L.D. Engineering was formed on February 28th 1971 founded by 3 partners, Mr Olner, Mr Lusty and Mr Drackley. The first letter of each surname was used and so O.L.D. Engineering came into being.
In 1979 Mr Lusty acquired overall control of the company, and in February1980 the Company moved to its present address on Sketchley Lane Industrial Estate.
In 1984, the premises were extended to 22,000 sq. ft., and C.N.C. Machines were introduced to allow the company to expand further and take on more complex work. That philosophy has continued to this day, and the Company now hosts a full range of C.N.C. machines, including Lathes, Machining Centres, Grinding Machines and a co-ordinate measuring machine.
In 1996 Mr Lusty retired passing control onto his family. To this day the company is still a family owned concern, giving a more personal environment and assured continual reinvestment.
Having grown to a point where the company was turning over in excess of £10 million, they started to face a serious downturn in business through the last recession.
The challenge was to change the culture, return the company to profitability, and reposition it in the marketplace.
O.L.D chose AIM as their partner to meet this challenge and following an internal rationalisation the Managing Director signed off on a rebranding and lean implementation programme, to remove ‘waste’ in company processes.
The company collateral was rebranded and a new website created for repositioning, following which a series of ‘lean’ initiatives were carried out over a period of two years to strip waste from all processes. Reorganisation of the factory layout resulted in speeding the flow of components and materials throughout the business.
A return to profitability followed and the company has successfully diversified into the aerospace sector, and continues to grow whilst retaining the principles of ‘Lean’.
Guide a medium sized engineering company back to profitability through a time of recession and rebranding the entire organisation to future proof it against further economic downturn.
After an initial scoping exercise was carried out to identify areas which could be improved, a ‘Lean’ implementation programme was undertaken to reduce waste. A rebranding project was also carried out simultaneously to reposition the company.
Reorganisation of the factory layout resulted in speeding the flow of components and materials throughout the business.
A return to profitability followed and the company has successfully diversified into the aerospace sector, and continues to grow whilst retaining the principles of ‘Lean’