New top team, funding package and rebrand for PPSI

A Lancashire engineering company has revealed ambitious expansion plans including a new nuclear division after naming new leadership and securing growth funding from Lloyds Banking Group.

Printing Press Services International Limited, which will now trade as PPSI Manufacturing, of Sellers Street Works, Preston, made the announcement as it celebrates its 50th anniversary.

The business was founded in 1966 and later claimed to be UK’s largest newspaper printing press manufacturer, operating at an international level.

Now chairman David McManamon is the latest member of the family to lead the business, and Craig Hester has been named as the new managing director, having served as operations manager for six years.

With the support of a funding package worth a total of £865,000 from Lloyds Bank, PPSI now plans to continue its diversification strategy, which has seen it expand into new sectors after a decline in work building and maintaining newspaper printing presses linked to a downturn in newspaper sales.

Today PPSI works with a range of clients, from SMEs to blue chip companies in sectors including automotive, oil and gas, nuclear, defence, construction and robotics.

It will also be launching a dedicated new business PPSI Nuclear in 2017, bringing a number of experienced executives from the industry on board.

The company’s 80,000 sq ft workshop includes modern computer numerical control machinery and PPSI has the ability to carry out anything from simple assembly, to large heavy engineering projects.

New managing director Craig said: "Having worked in the industry for nearly 30 years and with PPSI for the last six as operations manager, I was delighted to be offered the role of MD, working alongside David as chairman.

“It’s no secret that the global newspaper sector has suffered a downturn in recent years, however, further to our restructure and refinance, PPSI is now well-placed to become a leading specialist engineering and manufacturing company. “Since the restructure, PPSI has already secured new major contracts in new markets, making this an exciting opportunity moving forward.”