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Elbit, which is based in the port city of Haifa and is listed on the Tel Aviv and New York Stock Exchanges, is keen to use Ferranti Technologies as a conduit to drive sales of its products in the UK and Europe, including its night vision goggles for pilots of military helicopters.
As Ferranti Computer Systems
The company has its headquarters in Cairo Mill, Waterhead, where its engineers and technicians work on power conversion, distribution and instrumentation systems for trains, executive and fighter jets, tanks, submarines, destroyers and other commercial and military vehicles. More than 60pc of sales come from the aerospace sector, with 35pc from defence firms and just two per cent from rail.
Glaswegian Terry, a married father of two, spent five years in the army during the Seventies, rising to the post of major in the Argyll Southern Highlanders. He had studied economics at Glasgow University before joining Johnson Johnson
then left in 1981 to become sales boss of a construction company in Hertfordshire which was part of the AmecThree years later, he joined Royal Ordnance
After spells in Germany, Northern Ireland and Cyprus, he returned to civilian life as an advertising salesman with a London based magazine publisher.
When its owner went into receivership in 1993, the group was broken up and the Oldham based business was acquired in 1994 by a management team led by Trevor Tuckley, who sold it on to Terry's team five years later.
supplier to BAE Systems
was looking for an exit after eight years.
Ferranti, which designs and manufactures technology for the defence, aerospace and rail sectors, generates 90 per cent of its revenues from UK customers such as BAE Systems
for a management programme. He rose to become head of divisional procurement before he seized the opportunity to take over at Ferranti, which was a Nike Sb Janoski Floral Camo
Ferranti flies high again
However, at the age of 22, he sought a change and took the military option.
as a graduate trainee.
"I micro managed everything, putting in 12 hours a day and making tough decisions to rationalise and realign the business," says Terry. Things started to pick up, but then came 9/11, which resulted in commercial aerospace orders being cancelled and severely dented group sales and profits. It was a couple of years before trade improved again and, since the start of 2004, Ferranti has been doing well.
Elbit came in when private equity investor ABN Amro
Terry won promotion to managerial level Nike Janoski Light Brown
"Our first quarter figures exceeded our targets and our markets are robust. We are looking forward to delivering double digit growth for the year as a whole."
, it employed 1,150 people in its heyday during the Seventies and annual sales of 40m.
Staff numbers are growing steadily once more and are expected Nike Sb Janoski Olive to reach 200 by the end of this year, while the benefits of last summer's 15m swoop by defence electronics giant Elbit Systems
, but is increasingly looking to expand sales in mainland Europe.
The Oldham based business has enjoyed a strong start to 2008 and is on course for sales of 24m this year, up from 20m in 2007, which took it back to 1994 levels after lengthy and often painful periods of restructuring.
, the Ministry of Defence
Ferranti's managing director Terry Scuoler, 58, said the business is still run autonomously although it now forms part of Elbit's aerospace division.
There followed the inevitable yet painful job losses 60 redundancies out of a 210 strong workforce within a year and an overhaul of the management team.
"The relationship is proving very successful and there is real confidence that, with continued investment, we can continue to grow, recruit and develop the ongoing skills and capabilities of our employees," he said.
as European sales and marketing manager. The company was acquired by BAE Systems in 1988 and Terry was selected Nike Janoski Max Black And Gold
, the electronics division of Ferranti International
Changing the mix was a priority for Terry when he took over following an 8m deal in 1999, backed by ABN Amro, which took a 65pc stake.
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