Two leading Mid-Ulster companies recently agreed a novel ‘swap’ of buildings in order to improve their respective businesses.
The deal involved Savile Row Company and Moyola Precision Engineering who have been neighbours in Castledawson for the last 34 years.
Moyola Precision, having recently won some major contracts in the aerospace industry, required additional floorspace as it was outgrowing its current facility.
The management team believed the best way to expand would be to approach Savile Row next door to see if they would sell their factory.
After negotiations of more than a year, the neighbours finalised a deal earlier this year which saw Savile Row ‘swap’ its Castledawson base for a new one at Station Road industrial estate in Magherafelt.
Both companies have ambitious plans to create new business and employment opportunities in the medium term future.
Moyola Precision with the successful expansion of its high tech aircrafts parts engineering and Savile Row with its new on- line clothes customization business. The move creates the space for both companies to achieve these ambitious plans.
Mark Semple, Managing Director of Moyola Precision said: “We wish Savile Row many years of future prosperity. They have been great neighbours over the years. Although we will be sad to see them move, the acquisition of their facility right next door to us will enable Moyola to meet our ambitious growth plans over the years to come.”
Jeffrey Doltis commented: “We have had a good relationship with Moyola over the years and wish them every success for the future. Moving from Castledawson where we have been based for 40 years was a difficult decision but the larger and more modern factory in Station Road, Magherafelt will help us grow our business model. We have also upgraded our on-site shop facility and would welcome all to come along and visit for themselves.”