MWS aiming to increase turnover from £7 million to £20 million, new CFO
Leading wheel distributor, Motor Wheel Service has appointed Peter Knapman as finance director. Knapman, from Manchester, previously operated as a finance professional offering freelance advice and solutions to a wide selection of SMEs throughout Europe including Polish engineering firm, Europower SPZ O.O. and Italian automotive exhaust specialist, Klarius Srl. The appointment comes on the same day as John Ellis, managing director of Motor Wheel Service, announced the company’s plan to increase turnover from £7 million to £20 million in the next five years.
One of the main thrusts of the expansion plan is to increase sales of forged aluminium wheel, xlite throughout Europe and worldwide through a series of distribution partners. xlite was recently registered as a worldwide brand thanks to an exclusive 10-year trademark agreement between the company and manufacturer, Wheels India.
Ellis said: “The possibilities for xlite are enormous, with plenty of scope for growing the market and increasing market share through a steady stream of promotion, not just on price but the overall operating benefits of running trucks and coaches on a forged aluminium wheel. To achieve this we need to right team in place, and Peter brings a wealth of financial knowledge and European experience, he will be an asset to the company from day one.”