BREAKING: Limerick company announces 60 new jobs and plans to double revenues to €20m

Donal O'Regan

Reporter:

Donal O'Regan

Email:

donal.oregan@limerickleader.ie

BREAKING: Limerick company announces 60 new jobs and plans to double revenues to €20m

Gerry Reynolds and Donal Galligan at Takumi's Limerick facility

TAKUMI, the Limerick-based precision engineering firm, has announced 60 new jobs as it foresees a recovery from Covid in mid-2021.

The company set up by Gerry Reynolds in 1998 has also announced a new management structure as it prepares for 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 foresees recovery from mid-2021, a doubling of revenues and the creation of an additional 60 new jobs over the next four years at its facility. Focus is now on rebuilding and securing resources to meet the needs of an ever-growing customer base. The company already employs 80 people at its facility in the Raheen Industrial Estate.

Donal Galligan will take on the role of CEO, assimilating many of the responsibilities previously held by Takumi founder Mr Reynolds, who will take on a more strategic business development and stakeholder management role. Mr Galligan has been with the business for over 20 years having joined as a graduate in Mechanical and Manufacturing Engineering from LIT.

Commenting on the changes, Mr Reynolds, 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 supports and an amazing job from our team, we have weathered the storm and are now able to prepare to rebuild for the future. I am confident about our targets to double our revenues to €20m and add 60 new jobs in the next four years." 

He continued: "I can think of no one better than Donal to whom to pass the reins of the daily management of Takumi. I also welcome John Moran and Gene Leonard to our advisory board. Gene has already been a trusted advisor for some years, and John’s experience and particularly his advocacy on behalf of Irish SME’s during the Covid period made him a natural choice to support our company. These strategic changes to Takumi’s management structure coupled with the new positions will align the company well for future growth and success.”

Mr Galligan said honoured to be asked by Mr Reynolds and the board to take over the running of Takumi and lead its next phase of growth. 

"Already, we have agreed that the company 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 utilising 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," said Mr Galligan.

Takumi has also announced the creation of a newly formed advisory board. Mr Reynolds will lead the advisory board and Takumi welcomes Mr Moran and Mr Leonard as the other members. Mr Moran has a long association with Mr Reynolds dating back to U12 hurling in Mungret. Mr Leonard, of LBS business systems, has acted as a management consultant for the business for some years. Takumi board directors and management look forward to regular engagements and receipt of advice on the strategic direction of the business into the future from this advisory board.

Already this year, the business in addition to appointing Mr Galligan as CEO, has added several new positions and made important strategic changes to its organisation and management structure.

The inception of a dedicated business development and sales team is one of the cornerstones of the company’s strategic growth plan. Shane O'Neill takes on the role of new product introduction manager. Shane has previously operated as production manager and has been with Takumi for 15 years having joined as a graduate engineer from UL. The successful introduction and onboarding of new business will be critical to the ongoing expansion.

Colm Diggins, who has over 21 years experience, will move into the role of technical sales, concentrating on the onboarding of new business particularly for the newly acquired 5 axis waterjet.

In the past 12 months Fiona Murphy has joined Takumi, co-ordinating the sales and marketing activities in the business including a rebranding of the business, which will be unveiled in the near future.

Takumi’s multi-lingual dedicated customer account management team has grown as the company places high value on customer service. The headcount in this department has doubled with the addition of two new account managers - Eugene McGovern has joined the company as medical device business account manager and recent UL graduate John Sheahan is managing accounts in the aerospace sector of the business.

A Chinese speaking graduate will also join the team to enhance communications with existing customers based in China. Takumi looks forward to future opportunities for growth through the development of these customer relationships.

Quality and innovation continue to set the standard and Takumi are proud to see their people develop from within. LIT graduate Maeve Guilfoyle takes up the mantle as quality manager from Steve Christopher, who moves to role of Regulatory affairs manager to lead Takumi's acquisition of further regulatory approvals in near future. The quality department expands with an additional graduate, quality engineer, Andrew McMahon.

Mike O’Neill, current maintenance & facilities manager, takes on the additional responsibility for R&D, innovation and new technologies.

Across other areas of the business Cian O’Brien, a recent graduate of UL, has joined in a supply chain & procurement role. LIT graduates Shane Reddy and Joanna Wieczorek join in the role of a manufacturing engineer and CNC operator and setter respectively.

Commenting on his appointment, Mr Leonard said: "I was honoured to be invited to join the advisory board of Takumi Precision. I am very proud to be associated with the company and look forward to an exciting future for both the company and the Takumi team."

Mr Moran said: "I am delighted and honoured to have been asked by Gerry to travel the next chapter of Takumi’s growth with him, Junko, Donal and the team. I have been so impressed by how Gerry has created a leading-edge engineering company right here in the heart of Mungret-Raheen, where we both grew up.  

"I now look forward to helping Takumi diversify its customer base into continental Europe and establishing new strategic partnerships. It will be tough to double revenues so as to be able to hire another 60 people but from what I see the team is well up to the challenge."