History

The Company was originally incorporated in August 1974 as Sheffield Insulations ( Solent) Ltd as a wholly owned subsidiary of Sheffield Insulations, a family owned business. In 1977 the Company changed its name to Telstar Panels and formed part of a strategy by Sheffield Insulations at that time to diversify into manufacturing and develop opportunities away from its core distribution business. The business was developed under the guidance of its parent company. Acquisitions and new products focused the business as a manufacturer of insulated panels for the building industry with Sheffield Insulations as a key customer. In 1985 the Company re-branded itself as Panel Systems with the intention of developing opportunities away from its parent company. This strategy also coincided with a move by the parent company to focus on its core business of distribution and to undertake the public flotation of the family owned business. In 1991 the Company was purchased as a management buy-out by its current Directors and a third party equity funder. The parent company remained a key customer after the buy-out, but the Directors were already developing the sales, manufacturing and IT resources to create a more diverse and flexible company. The equity partner exited the Company in December 2001. Over the last ten years the Company has had a strong commitment to invest in modern manufacturing equipment, in knowledge based skills and in strong ‘partnership’ links with customers and suppliers. Strong sales growth has been achieved across a wide range of branded products and panel components. In 2004 the Directors recognised that the existing 30,000 Sq ft manufacturing base would not be able to support anticipated sales growth. In November 2004 an additional factory site of 17,000 Sq ft was opened and this would focus on the hot-wire cutting of Styrofoam®, an extruded polystyrene. The increase in capacity was further enhanced in March 2005 with an additional 6,000 ft to improve warehousing capability particularly in relation to service levels on Internet based sales.

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