Limerick engineering firm plans to expand the workforce by 60
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LIMERICK precision engineering firm, Takumi, said it plans to expand its workforce by 60 to 140 employees.
Set up in 1998, the firm has announced a new management structure and said it expects “a positive and sustainable return to growth having weathered the 2020 COVID storm”.
Revenues dropped significantly during 2020 due to “supply chain turbulence and disruption caused by the Covid-19 crisis“, however, the company added that it foresees “recovery from mid-2021, a doubling of revenues and the creation of an additional 60 new jobs over the next four years”.
Takumi said the focus is now on “rebuilding and securing resources to meet the needs of an ever-growing customer base“.
The company currently employs 80 people at its manufacturing plant at the Raheen Business Park, Limerick.
Takumi founder Gerry Reynolds, who is retiring as the chief executive said: “The last year has been a particularly difficult one for our staff and their families, our customers and our business, but, thanks to government support and an amazing job from our team, we have weathered the storm and are now able to prepare to rebuild for the future.”
Mr. Reynolds said he was “confident about our targets to double our revenues to €20m and add 60 new jobs in the next four years”.
Donal Galligan, Takomi’s incoming chief executive, said the firm “will continue its ongoing investment in plant and equipment to facilitate competition on the worldwide market”.
“Even throughout 2020, in the midst of the Covid-19 pandemic, over €1 million was invested in new machinery to ensure we compete by utilizing the latest technologies.”
“Over the years over €10 million has been invested in plant and equipment and Takumi has grown our team to 80 employees to become one of the largest indigenous companies in its sector. I look forward to continuing to work with my existing colleagues,” Mr. Galligan said.