Shropshire robotics company in search for investors
An up and coming Shropshire robotics company has appealed for investors to come forward as it embarks upon an expansion plan that it says could see it grow revenue to £16 million inside four years.
Armstrong UEN was established by Peter Richards, after several years of product development aimed at developing a machine that is quick to adapt to allow it to be used by mid-sized companies for a variety of functions.
Now, after tweaking and adapting its prototypes to perfect its core product, the Armstrong is set to begin a marketing campaign, and is looking for investors who can help it get off the ground.
"We want to cover marketing costs and the launch of the product," Mr Richards said. "We have spent four years in product development, and we now have a product that's compatible with any type of machine or automation equipment, and that can compete with larger companies.
"We would like people with the money to put into the company, but also somebody with the time and business expertise to put in as well.
"Somebody with the contacts in the industry would be helpful, to introduce it to other manufacturers."
The business was established in 2009, and is the only industrial robot manufacturer and designer in the UK, and one of only 14 around the world.
Much of the history of the company has been aimed at product development of its pick and place robotics, used for palletising, machine tendering, and general automation.
The base AE1 model has a 1.5 metre reach can lift up to 40kg. The robot will be available for the first time this month, with the USP that it is around 50 to 60 per cent cheaper than its competitors, and is easy to use and operate, is adaptable, and has low running costs.
The business is based inside CP Engineering, on Shrewsbury's Battlefield Enterprise Park, and can make up to 1,000 machines a year.
"Our targets are to turnover in excess of £16 million by 2018 by manufacturing over 1,000 robots per year, and to achieve a lead time of two days from order to factory door," Mr Richards added.
"The market demand is out there, and now is the best time to get into robotics that there has ever been.
"On average, the market is growing worldwide at nine per cent a year, but places like China are seeing growth of close to 30 per cent every year.
"People are looking to automate all the time, and we are improving production processes and reducing manufacturing costs. Robots are the perfect tool when you are looking to make savings."
