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Fenn Tool Cuts Its way To The Top

Public confidence in the economy was reinforced today as four fifths of small businesses in the manufacturing sector claim that they will be more profitable this year than last year, a study from Parcelforce Worldwide reveals.

The survey of 3,000 small businesses was published as Fenn Tool Ltd was announced the winner of the Parcelforce Worldwide Small Business Awards last night (Tuesday 23 January, 2001).

“Even in a marketplace dominated by multinationals, there are excellent opportunities in niche areas for small businesses like Fenn Tool in the manufacturing,” said Gary Ridgway, Director of Fenn Tool.

East Anglian firm Fenn Tool manufactures and distributes specialist cutting tools to engineering machine shops, and was selected from 11 regional finalists, netting prizes to the value of £30,000.

The prestigious London ceremony was attended by key business people and opinion formers alongside Patricia Hewitt MP, Minister for Small Business and E-Commerce.

Ted Fuller, of the University of Durham Business School which validates the scheme, was chair of the national judging panel including David Hands of Federation of Small Business; George Cox, Institute of Directors; Emanual Gatt, Business Links.

Mr Fuller said: “Fenn Tool showed some striking examples of nurturing client relationships. Its success in bringing about significant change in order to fulfil the needs of customers demonstrated its vision to retain and expand its customer base. In a difficult market Fenn Tool demonstrated the depth of management that gave it an extra edge over the other finalists.”

Started in 1982 by Peter Fenn, who has now retired, the Braintree-based company sells its products through a team of skilled engineers, as well as through trade fairs, trade journals and the Internet.

Gary Ridgeway, Director, said: “ Winning this award is the best start to any year to date. We have been going from strength to strength – this is a real credit to my team. It is great to be recognised when our vision has been to strive for excellence and this epitomises exactly that!”

Vanessa Leeson, Managing Director, Parcelforce Worldwide, said: “Fenn Tool is operating in a very competitive, niche market, but demonstrated enormous potential for growth. Parcelforce’s link with small companies is evident in their dependence on efficient delivery systems, and for this reason we are a key partner in the day to day operations of their business.”

All at Fenn Tool would like to thank Parcelforce and their sponsors.
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